property

Querist : Anonymous (Querist) 30 October 2010 This query is : Resolved
We live in mumbai and have proeprty in mumbai. This property belongs to my paternal grandparents.They are no more . now their property has come to their 3 children i.e 2 daughters and 1 son ( this son is my father) Share certificates are in the 3 children's name . Now my father and his 2 sisters are entering into a family arrangment for transfer of property among themselves.

My query is this

1) tranfer of property within blood ties can it be done through transfer form
or

whether stamp duty via gift deed needs to be executed.

what is the legal procedure for transfer

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Devajyoti Barman (Expert) 30 October 2010
I think you could do that by way of a registered deed of Partition.

s.subramanian (Expert) 30 October 2010
I agree.

Querist : Anonymous (Querist) 30 October 2010
thanks for your reply. Agreed that registered deed of partition would be the best thing. But here the share certificates of all the properties are in 3 children's name collectively . We just want to adjust it in such a way that in some 1 property one heir's name is deleted from share certificate and in the other proeprty the 2 and 3rd heir's name is kept and the 1st heir's name delted . like this settlement we want to arrive at.

Kirti Kar Tripathi (Expert) 31 October 2010
in case, you want to save stamp duty, file a declaration suit in civil suit, said decree shal serve the purpose.

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