What to do to take property back to my name ?
ramesh
(Querist) 02 April 2014
This query is : Resolved
I got divorced from my wife last month. But to save my property I have gifted my Flat to my Father 4 yrs back. Now I’m free from my wife.
Now I want my flat back on my name. What should I do to take that flat?
As I'm only heirs, so after my father, what charges need to pay for property transfer?
Or
Should I cancel the GIFT DEED? I think which is not possible.
or
Should I ask my father to gift it back to me ?
Which will be more convenient and less expensive way need to follow?
Ramesh P
ajay sethi
(Expert) 02 April 2014
your father can make a will bequeathing flat to you . since you are the only son and legal heir it wont create any legal complications
ramesh
(Querist) 02 April 2014
But much I need to pay to get the flat on my name after WILL ?
Will is the 3% or 5 % of flat's amount ?
or nominal charges?
I asked this because to gift flat of 13 lakh I had paid 60000/- as a stamp duty .
ajay sethi
(Expert) 02 April 2014
no . you make application to society for transfer of flat in your name on demise of father . enlcose copy of will .
since you are only legal heir you wont face any problems . if you want probate of will you have to pay court fees
Rajendra K Goyal
(Expert) 02 April 2014
Well advised by the experts, agree to it.
ramesh
(Querist) 02 April 2014
I'm still confused
Is it mean I do not need to go to "registration office" to transfer my flat to me.
Also no need to pay any stamp duty ?
ajay sethi
(Expert) 02 April 2014
no you need not need to do so . only if your father executes gift deed in your favour you have to pay stamp duty and have gift deed registered
ramesh
(Querist) 03 April 2014
Then if I do not have name on index-2 of flat doc,
then hows could I change my name on electricity bill or sale the flat in future?
or pay property tax as all over my father name is registered now.
T. Kalaiselvan, Advocate
(Expert) 03 April 2014
On the basis of Will, you can change all the revenue records including the Electricity connections and water supply connections on your name after that.
Devajyoti Barman
(Expert) 03 April 2014
You are already advised. Still there is no end to your queries.
ramesh
(Querist) 03 April 2014
Thanks all Experts for kind suggestions
A lot thanks to Ajay Sethi Sir
Anirudh
(Expert) 03 April 2014
I am sorry, on the basis of WILL it will not be possible to change the name in the electricity connection etc., as the WILL would come into effect only after demise of the testator.
Gifting back the property by your father to you would be a costly affair as it would involve stamp duty.
Since you are the only heir, the property will come to you only by way of inheritance.
However to be on safer side, you can get a WILL executed by your father in your favour and get it REGISTERED.
But, so long as your father is alive, the property will remain in his name, in case of WILL.
