Sale of property
VIVIDHKUMAR MAHAMUNI
(Querist) 15 October 2014
This query is : Resolved
This is regarding the flat belonging to my in-laws. The flat was held jointly by my father in law and mother in law. The Share certificate has been endorsed with both their names. They have two sons and one daughter i.e my wife. Both the sons are in US. My father in law has expired. My mother in law wants to sell the flat for which she is directed by her sons and daughter. They have helped her in getting a good buyer for the property. My father in law's name needs to be deleted from the share certificate. The society has asked for NOC from the sons and the daughter.
I would be greatfull if you help me in knowing if the NOC is compulsory and if so under which act.
VIVIDHKUMAR MAHAMUNI
(Querist) 15 October 2014
Please guide me as to what type of NOC and how to go about it.
ajay sethi
(Expert) 15 October 2014
no objection certificate from sons and daughter for transfer for your father 50%share in flat in name of your mother only
. for sale of property mere NOC wont suffice . the other legal heirs would have to execute gift deed or relinquishment deed in favour of mother
VIVIDHKUMAR MAHAMUNI
(Querist) 15 October 2014
Since both the sons are in US, it would not be practical for them to be physically present to execute the deed. Moreover, I suppose there is an incidence of Stamp Duty and Registration charges for execution of such deed.
May I request your opinion on the same.
malipeddi jaggarao
(Expert) 16 October 2014
As the share certificate is in joint names, the society is right in asking NOC from all the legal heirs. A duly executed affidavit by the sons and daughter stating that they have no objection for transfering the entire to the deceased wife'sname is suffice for such transfer.
As regards selling the property, expert Shri Ajay sethi's advice is perfect. The sons and daughter should execute a gift deed, gifting their share of property to their mother or a deed of relinquishment relinquishing their rights over the property is toe be executed.
For both these documents, stamp duty and registration is a must. You wait until they come over to India and settle the matters.
Rajendra K Goyal
(Expert) 16 October 2014
Sons who can not present may execute power of attorney in US before Indian Consulate, in favor of their mother and sign the respective NOC on the prescribed language of the society. The stamping and registration can be in India afterwards.
malipeddi jaggarao
(Expert) 16 October 2014
Agreed to the further advice given by expert Shri Rajendra K Goyal.
VIVIDHKUMAR MAHAMUNI
(Querist) 16 October 2014
I am extremely thankful to Shri Rajendra K Goyal and Shri Jaggarao. I am sending your advice to the sons in US and shall revert once I have a feedback from them.
T. Kalaiselvan, Advocate
(Expert) 19 October 2014
Experts have advised very well, especially a proper conclusion by expert Mr. Rajendra K Goyal adding to the views of other experts on this issue. I agree and endorse my similar views.
