Stampt duty for division of property
kumarjainn
(Querist) 19 September 2013
This query is : Resolved
sir
In delhi there is a property (Residential kothi) registered in the name of two brothers. They inherited this property. Now they want to divide this property and register 50% property in each of their name. They have settled among themselves the portion they will take. Now what is the legal requirement to be done so that they can have their portion in their name? will they have to pay any stamp duty.
Isaac Gabriel
(Expert) 20 September 2013
You can get it registered through partition deed with the fee(nominal)at the registrar
kumarjainn
(Querist) 21 September 2013
sir
thanks for reply
They have four houses in delhi in different areas. Three houses are on rent In one house both the brothers are staying. They want to partition the house in which they are staying and not all the four houses. Is it possible to partition one house only and keep the three houses in joint name
pl advice .
kumarjainn
(Querist) 21 September 2013
sir
pl. advice
kumarjainn
(Querist) 21 September 2013
sir
do we have to register family settlement deed or partition deed. which will be better and safe for future. what is basic difference in both the deeds.
kumarjainn
(Querist) 21 September 2013
sir
is there any difference in family settlement deed and partition deed
ajay sethi
(Expert) 21 September 2013
if brothers have bunglaow in delhi it must be worth in crores . contact a local lawyer . get family settlement deed drafted by him . pay stamp duty and registration charges as per his advise . you can afford legal fees
V R SHROFF
(Expert) 21 September 2013
well advised by Shri Sethi.
kumarjainn
(Querist) 21 September 2013
sir
thanks
from the above i understand that if we go for family settlement procedure then we will have to pay heavy stamp duty but if we go for registration of partition deed then we will have to pay nominal registration charges. which procedure will be better and safe. the property is already in the joint name of the brothers. then why they should pay heavy stamp duty again. Is registration of partition deed procedure not safe. obviously, advocate will have to be involved for doing the job. but which job should be assigned to him. they can do both the job. pl enlighten us on the pros and cons of both the procedure
