karthik123 (IT engineer) 23 February 2012
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