TRANSFER OF PART OWNERSHIP
Querist :
Anonymous
(Querist) 04 March 2010
This query is : Resolved
My husband died last year . He purchased a flat in his own name and registration was not done before his death. I am told that In my husband's absence I have 1/4th share, the other shares being held ny my 2 minor daughters & my mother-in-law. Now my mother-in-law wants to give her share in favour of my 2 daughters under the condition that the flat cannot be sold until my younger daughter reaches 21 yeras of age. Now my queries are:
1. How should this tranfer be done?
2. once the transfer is done can I register the flat in my & my daughters' name?
Mr. Vardali: Thanks but I did not understand your answer fully. Can you be more specific?
Mr. Vishal: Thanks a lot.
How will my mother-in-law transfer her portion to my daughters' name -
1.on a non judicial stamp paper?
2.if yes, rS. 10, 20, 50- which stamp paper- how should I decide?
3. It should be signed by how many witnesses?
4.Should it then be registered?
5. Is anything more is needed?
adv. rajeev ( rajoo )
(Expert) 04 March 2010
You told your husband purchased the flat but it is not regd., When it is not regd., how come your husband was the absolute owner. Any way either you or your mother in law can get regd., sale deed or get the regd., sale deed jointly. After getting the regd., sale deed in your name or your MIL's name. The sale deed in whose name it is executed she will be the absolute owner. If your MIL wants to give her share to your minor daughters, she will have to execute the rights relinquish deed. It is to be regd. I think there is minimum stamp duty for it.
It is not necessary to write on the stamp paper, because sub registrar will issue the stamps.
Wittness is necessary.
If it is regd., it is well and good, if it is not regd., then it may leads to litigation after some time.
