Property transfer procedure
sachin
(Querist) 07 June 2014
This query is : Resolved
my father expired leaving his last will in which he has left all his property in name of my mother. i and my brother has signed indemnity bond stating that the we accept the will of my father and want to transfer the ownership of the property in the name of my mother absolutely. Society has already transferred the property in name of my mother name on basis of that indemnity bond. My mother has gifted me one commercial property by making gift deed, now my brother has sent the letter to the society stating that my mother is only the caretaker and she cannot gift or sale the property by anymeans.
as per the letter probate is the must and it is illegal to transfer the property by means of indemnity bond.
commercial property is purchased by my father
could you please tell me is it legal to transfer the property in mumbai using indemnity bond or probate is the must
Advocate Ravinder
(Expert) 08 June 2014
In Andhra pradesh it is not compulsory. But in some state it is compulsory. If your state make the rule compulsory, you have to follow it, otherwise the legal heirs will not get title.
Hemant Agarwal
(Expert) 09 June 2014
1. IF the Brother has signed an "Indemnity Bond", confirming genuine existence of Father'w Will, THEN he loses all rights to contest or challenge the will or the transfer of property or any other dealings. HOWEVER, this is subject to the clauses of the Indemnity Bond.
2. However, irrespective of the above fact, AND since the immovable property is based in Mumbai, a Probate of the Will becomes necessary, IN THE EVENT of such disputes.
Keep Smiling .... Hemant Agarwal
http://hemantagarwal21.blogspot.in/?view=sidebar
sachin
(Querist) 09 June 2014
thank you sir
society has already transferred the share certificate in the name of my mother and now she has gifted that property to me by paying stamp duty and completing registration process.
indemnity bond clearly state that he have no objection and irrevocable consent for transferring the property share certificate in name of my mother absolutely.
1] can we still make probate of that will,
2] is that gift deed valid,
3]can society stop that transfer of share certificate from my mother name to mine after submitting gift deed.
Adv D P Jindal
(Expert) 09 June 2014
Dear Sachin,
It is not clear whether u are asking for two property or one? Society Property and Commercial Property. If commercial property is the other one, then mention its status or transfer in your mother name or not? Where you submitted the Indemnity Bond?
sachin
(Querist) 09 June 2014
1] i am asking for commercial property,only one
2] premises co-operative society ltd, commercial property,
3]submitted indemnity bond in society of commercial property.
4]status on share certificate : it in name of my mother
T. Kalaiselvan, Advocate
(Expert) 11 June 2014
Once an indemnity bond has been executed by both, you and your mother, the Will executed by your father is deemed to have solved the legality issue of the same, making the Will legally valid, thus subsequent to the same, your mother becomes an absolute owner of the property. Now, once your mother has become an absolute owner of the property, she has got full rights to transact with the property in any manner she desires so, therefore during her life time, the property transferred by her in your favor by executing a registered gift deed is absolutely valid in the eyes of law and cannot be disputed. After this, the society should not find any reason to refuse to transfer the share certificate on your name,your brother's letter to the society in this regard can be ignored by the society.
sachin
(Querist) 11 June 2014
Thank you for all your help sir
sachin
(Querist) 11 June 2014
Expert : Ravinder.P, Expert : Hemant Agarwal, Expert : ABDUL RAZIQUE, Expert : Adv D P Jindal, Expert : T. Kalaiselvan, Advocate
THANK YOUR FRIENDS, THANK YOU VERY MUCH
Adv D P Jindal
(Expert) 11 June 2014
Once the society has transferred the property in your mother name and accepted that she is the owner of that property, the society cannot take the notice of letter of your brother. Write a letter to know what is their objection in transferring the property in your name, and then file a suit for declaration and make the society a party in the suit, after receiving their reply.
