Hi,
In 1995 I bought a flat in my name. In 2000 I settled the property in the name of my mother and she is now the registered owner of the flat. She and other residents in the block of flats have got into a development agreement with a builder to demolish and develop new flats. To facitate this each owner has transferred thir rights to the developer. When the flats are ready, one of the alloted flats will be re-assigned to my mother.
She wishes to add me as a joint owner ( I am an only son) when re-registering. My question is what are the implications of adding my name as Joint Owner - financial, legal and cost implications such as stamp duty? What is the process and what should I look for? The flat is in Chennai. I thank you for your assistance.
Regards
Gowry Shankar
