Ramsey 15 January 2024

Affidavit - house transfer of share.

Dear Sir,

My brother and I are registered owner of a 2 floor house in housing Board Haryana. Since I have decided to give up my share to my brother subject to myself getting paid for release of this share, I have been told the below process.

-I'll need to sign a NOC affidavit that I am willing to release my share to my brother, this will then be used to remove my name on Housing board documentation and put this as my brother as solo owner.

My question is do I need to get a payment affidavit signed by both parties or shall just an online transfer of payment to my bank account is enough. I was also being told that this a transfer so no payment document is done since it's just a transfer from brother to brother blood relation.

Please sir, please could you advise if I need to get any further documentation to make sure I m legally covered on this transaction since I will be paid for releasing the share.

Regards

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6 Replies

Dr. J C Vashista (Advocate ) 15 January 2024

You will have to pay "transfer" fees to Housing Board as per rules on the subject.

Transfer (relinquish) of your share in favour of your brother has to be compulsorily registered with concerned Board / Sub-Registrar where property is located and registered in presence of 2 independent witnesses.

However, your question regarding "payment affidavit", is not understood for forming proper opinion and oblige.

Ramsey 15 January 2024

Dear Sir, my question is related to the payment made to me for release of the share. How do both parties make sure they have a receipt of this payment which is being made to compensate the release of the share. They will transfer the money to my savings bank account, do we need any additional documentation like a receipt or invoice or an affidavit mentioning this amoun of money is being transferred to my account along with the bank transfer reference number....?

T. Kalaiselvan, Advocate (Advocate) 15 January 2024

The bank statement for online transfer will be sufficient to prove the transfer of money for this purpose in case of any dispute in future.

Dr. J C Vashista (Advocate ) 16 January 2024

Since you will be receiving consideration amount, it is your brother to seek receipt / acknowledgement of payment paid / transferred (by either mode), why do you worry and / or what is your query?

Ramsey 16 January 2024

Thank you sir. I have been told that any amount transferred to me online can always be questionable in future if there is no link to the payment reason. Money transferred can be termed as loan if not substantiated.