Tr of propetyin e ecution of will
hetalsangoi
(Querist) 10 January 2014
This query is : Resolved
My father has leave a will and all immovable property is wanted to named on my mother including residence snd office premises. Will is signrd by him and with two witness along with presence of doctor. Shall my mothet has to pay stampduty when propeties tr to my mother name.? Which document will be required on which property is get to tr on my mother name? Wehave not pay stamp duty on will. Pl guide me .
ajay sethi
(Expert) 10 January 2014
you have not mentioned where immovebale properties are located . apply for probate of will if in bombay .
if it is a flat in cooperative society make application to society for transfer of flat in your mother name . society may insist on probate of will
Rajendra K Goyal
(Expert) 10 January 2014
Get the will probated and move for transfer of property.
hetalsangoi
(Querist) 10 January 2014
property is located in the mumbai .
is in this case stamp duty is require to pay on the date of the market value of the property by my mother ?
prabhakar singh
(Expert) 10 January 2014
Only a will in which an executor is appointed by testator would be granted probate,else letter of administration is granted.Court fees(what you called stamp duty)would be @7.5%for assets over 2 lakh but there is a ceiling of `75,000 in Maharashtra.
hetalsangoi
(Querist) 11 January 2014
as per the ready recknor property of the residence value is Rs . 30 Lacha and commercial property value rs 15 L , then my mother is liable to pay total 75000 and 75000 means total 1.5 Lacs court fees is payable .
am i right understood?
