Dear all,
One of my clients had purchased a flat in his mother's name in 1984. Thereafter, in 1990 by writing a letter to the society the said flat was transferred in his name with the consent of his mother. The share certificate was sutiably amended and the maintenance receipts are issued in his name all throughout. There is absolutely no dispute.
He recently appraoched a bank for an loan and was informed that he has no title and document to the said flat. He wants to execute some document for his title to the said flat. The flat is situated in Mumbai, Suburb. Pl. advice me if the options below are correct and which is the best option in terms of transfer of title and minimun stamp duty:
a. Execute a deed of confirmation that the said flat was, orally, gifted to him by his mother in 1990 and get the same registered.
b. Execute a fresh deed of gift and get it registered - but in this case what about the transfer of the said flat in his name in the society's record since 1990.
c. a declaration that the said flat was purchased from the funds of the son and only due to respect or convenience it was purchased in the name of mother - cheque payments were from the account of the son.
PL. ADVICE.
Regards,
Milind Gyani.
