Devolvement of Property on Death to Heir- Whether Transfer ?
Priyanka
(Querist) 13 July 2008
This query is : Resolved
Facts :
A(Husband)& B (wife) are the joint holders of a flat in a Co-operative Hsg. soc. (Mumbai).
A dies, B remains as a single holder. They have 3 daughters, no son.
Now B wants to make 2 daughters (unmarried) out of 3 to become joint owners with her.
Query :
1. Whether such case can be considered a "Transfer", & thus, liable to "Transfer Fees" ?
2. If yes, then how much "Transfer Fees" are liable to pay ?
TSBehera
(Expert) 13 July 2008
Fessi.e Registration fess shall be applicable as per Registration act.
Priyanka
(Querist) 14 July 2008
Sir,
Does this case partake the character of a "Fresh Registration", inspite of the fact that it is just a devolvement of property on death of father & not a registration.
In the intant case, Mother being second holder (before death of her husband)just want to delete her husband's name (first holder) & want to make herself the first holder & 2 daughters as 2nd & 3rd holder, after her name.
Manish Singh
(Expert) 14 July 2008
Since you are inducting, in your lifetime some new owners it will be considered as a fresh registration since you need documents for such transfer. It is beter to make will and make it registered.
KamalNayanSaxena
(Expert) 14 July 2008
The status of ownership of alleged property is as below :
B is the owner of 1/2 share.
Remaining half share shall be inherited by all the three daughters and B.
No need for any fresh registration.
arunprakaash.m.
(Expert) 14 July 2008
This amounts to only Transmission of shares. not transfer.
Manish Singh
(Expert) 15 July 2008
It is not goin to be transmission or inheritance since she is not giving property to her 3rd daughter.
it could in no case be called inheritance.
KamalNayanSaxena
(Expert) 16 July 2008
Who can deprive of the share of third daughter? since one half of the property has become parantel property and all the LRs shall inherit that one.
