Transfer of share in flat on death of mother(main applicant)
Puneeta
(Querist) 13 August 2018
This query is : Resolved
My mother ( main applicant) and father( co applicant) had jointly booked a flat in Greater Noida( Uttar Pradesh) whose possession has been offered by the builder in Jan'18. My mother expired in Mar'18. Post which I can either get her share in the flat transferred either to my father or to me and my brother.
Want help in understanding the following aspects:-
a) Is stamp duty payable on transfer of immoveable property in Noida Uttar Pradesh on account of succession? Is a will necessary for this? Are there any expenses involved in this transaction?
b) In case we decide to get the flat transferred in my father's name can we deal with the flat( sale/ let out) through a power of attorney executed in our favour? For how long is this power of attorney valid?
rajeev sharma
(Expert) 14 August 2018
i. No stamp duty is payable for transfer by succession
ii. No expenses are involved for recording succession on the property.
iii.Will is better but it is not necessary. You may file a succession suit if not contested by anyone then the decree will be passed very soon.
iv. You better execute a relinquishment deed in favour of your father and get that registered . The stamp duty will be payable as per the rate prevalent in the state where you reside.
Dr J C Vashista
(Expert) 15 August 2018
Whether your mother had nominated someone in the records of builder/Society? If so, s/he shall succeed.
Whether your mother had executed any will or not? If so, the flat/property owned by her (your mother) shall devolve upon him/her.
Stamp duty differ from instrument to instrument and State to State.
Consult a local lawyer for better appreciation of facts, guidance and proceeding.
