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karthik123 (IT engineer)     23 February 2012

Need suggestion on re-register the land

When I was about to finalize/purchasing of land (near Chennai) I had to go out of the country trip,I have asked my father to continue with the purchase and have registered in his name,my father passed away recently without will.Now how do I re-register in my name.I have a younger brother & they are ready to give NOC,please let us know the formalities.
 
Also would it attract taxation ? suggest me options.


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 5 Replies

Shantilal Pandya ( Advocate)     23 February 2012

 it is  a  very  simple  case,  had your  father  effected  regisration for purchase in his  name ? if yes  effect  partition  of  all of your fathers  propertes  so as to  fall the  purchased property in your  share in  luie of  yourself  having  paid the  consideration  for purchase. this   is otherwise workable as settlemt  of joint hindu  family prpoerties   

Shantilal Pandya ( Advocate)     23 February 2012

settlemt  can  be  done  even oraly as  a past  settlemt   wherein registration  is out of  question 

karthik123 (IT engineer)     23 February 2012

So what i understand is we can execute settlement deed between us to settle the land to my name,do we have to pay stamp duty ? Thanks so much..

Shantilal Pandya ( Advocate)     23 February 2012

you can execute    partition deed providing  that the property  purchased   falls into your   share  in lieu of  consideration having been paid by you  and  the  family is  indebted to you  for that sum    with stamp duty  or  a family settlement  deed  without  stamp  duty  if  the terms of the  seetlemment  were aggred  upon  in past  and  subsequent  writing  is merely  a  recognition  of the  past   settlement .  this practice is  prevailant  in  many  Joint hindu  families  and the  courts have  recognised  this  practice.  but remember to  record the   fact  of  past  settlement  in the   deed itself  in which  case  payment of  stamp  duty   and registration may  not be  necessary   

karthik123 (IT engineer)     09 March 2012

I'm based out of Adyar,Chennai.Can someone help me to formulate the above deed.Do I have to go to visit Lawyer,document writer ? if anyone has pointers,let me know.Thanks,Karthik


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