Dear All,
My name is Arjun and iam new to this forum. i seek your advice regarding executing a settlement deed for our flat in Chennai.
The flat was registered in the name of my father who passed away in the year 2010 leaving three legal heirs, me, my younger brother and my mother.Now we (me & my brother) want to give our shares in the property to my mother through a settlement deed.
At first we were told that it will require only a 10,000 Rs. Stamp paper + 2000 Rs registration fees to execute the settlement.
But now we are told that, since two people are giving away their shares to their mother, the agreement will require a 20,000 Rs. stamp paper and 4000 Rs. registration fees (since it is considered two separate property share transfer).Is it really required???????????
Can somebody please clarify my doubts.
Regards,
Arjun
