My father had bought a land 20 yrs back and now he is expired. he did not create any will / property
Praveen
(Querist) 02 February 2015
This query is : Resolved
Kumar Doab
(Expert) 02 February 2015
It is believed that you are Hindu.
The ClassI legal heirs to deceased father are: Spouse (your mother), sons and daughters and all shall share the estate equally.
The entry in mutation record does not amount to Transfer of ownership or relinquishment of rights.....
After amendment to Hindu Succession Act 2005 the married daughters are at par with sons and have equal rights in the estate of parents......
You can approach a local lawyer dealing in property/revenue/civil matters with all docs on record and proceed under expert advise of your lawyer.
If you have to pay then it is better that the estate be properly partitioned by registered deed/ other Legal Heirs either Gift/relinquish/transfer/sell their share to you by a properly registered deed.....
Praveen
(Querist) 03 February 2015
hi thanks for the input,
if a gift deed can be executed, how should i proceed.
Will gift deed be taxable ?
should all three give me a gift deed.
One of my sister is in US.
I will negotiate with them by paying maximum possible amount.
Rajendra K Goyal
(Expert) 03 February 2015
Stamp fee applicable as per state law are charged in case of gift deed. In some states gift deed does not attract stamp fee in case of prescribed near relations. You can confirm from local lawyer.
Sister in USA can entrust POA in favor of a person she prefers.
Praveen
(Querist) 03 February 2015
Thanks sir again.
After Gift deed is made should i register in registration office in that case. will i be charges as follows as per Karnataka laws;
5.6% of sale value + 1 % stamp fee
what about incometax I have pay ?
prabhakar singh
(Expert) 03 February 2015
In my opinion you should go for a registered relinquishment or release deed which shall attract 1% registration fees or perhaps non in case of family members as mother brothers and sisteres are treated as family members.Much would depend upon the draft of the deed.
Your sister living in US can do it by a POA.
Now you should visit a local lawyer.
To remove confusions you may visit the following site:
https://www.karnataka.gov.in/karigr/modeldeeds/released.htm
Kumar Doab
(Expert) 03 February 2015
Learned senior Expert Mr. Prabhakar Singh has given valuable advise.
You should follow it and visit your lawyer.
Praveen
(Querist) 04 February 2015
Thanks Sir. I would visit.
