Property partition
Querist :
Anonymous
(Querist) 04 December 2010
This query is : Resolved
Gentlemen / Madam,
Thanks All of you for your valuable advice.
The gist of your advice, as I understand, is as under :
Now that the Decree is obtained from the Court, Deed of Release is not required. Hence, NO Stamp Duty is payable and NO Document is to be Registered.
A decree obtained from court after filing Consent Terms and MOU - both between Mother and Son and Indemnity cum Declaration by both the daughters, do not warrant any further Agreement. The issue between all concerned is settled once and forever.
I now request you to kindly confirm if my understanding of your valuable advice to the following query is proper or not :
"Sir / Madam,
This is a case pertaining to HUF flat of my late father which was under litigation in City Civil Court, Mumbai, after his death between his wife [my mother] and son [myself]. There are 4 legal heirs of my father - my mother, myself and 2 married daughters. An amicable settlement was arrived at between my mother and myself wherein both the daughters had relinquished their share in favour of mother as a result of which the flay is to be divided betwee mother and son on more or less 50% basis.
A decree had been obtained from the court after filing Cosent Terms and MOU - both between Mother and Son and Indemnity cum Declaration by both the daughters.
My query relating to the above is:
- Is it necessary to register the Deed of Release which is yet to be prepared.
- Will registration amount be paid on the whole flat or on half flat and what is the maximum limit of registration fees.
- Will the Deed of Release have to be Stamped? Stamp duty had already been paid on the Agreement of Flat during the Amnesty scheme.
- How will the stamp duty be calculated. On the whole flat or on 50% of the flat.
- What type of document should be prepared so as to attract least duty but be fool-prrof - a Deed of Partition OR a Deed of Family Arrangement OR any other document that you may feel proper.
- any other point that may be relevant in connection to the above.
Thanks in advance.
Regards,
Anand"
Thanks once again for your valuable advice.
Regards,
Anand.
