Nishil Philip 08 August 2024
Hi,
I am a committee member in our housing society and one of the Power of attorney's had a question. The question is that he is the Power of attorney and the flat is jointly owned by his grandfather and his mother. Now his grandfather will now be gifting his share of the property to his mother through a registered gift deed.
The question is, is there a transfer fee applicable in this case to be paid to the society?
T. Kalaiselvan, Advocate (Advocate) 08 August 2024
This is a transfer of the share of one of the joint owner to the other who are close relatives, hence the fee for transfer of share certificate in favor of the other co owner in respect of half share alone, may not be applicable.
However you may refer to your bylaws in this regard.
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