SUMEDH AYARE (MANAGER ACCOUNTS) 16 October 2013

Will / nomination

I STAY IN BOMBAY IN A MHADA HOSE. HOUSE IS OWNED BY MY MOTHER. NOW I WANT TO TRANSFER THE HOUSE TO MY NAME (I AM HER SON). IN OUR SOCIETY I AM THE NOMINEE OF SAID HOUSE). I WANT TO TRANSFER THE HOUSE BY SAVING THE STAMP DUTY. IN WHICH PROCEDURE I CAN SAVE THE STAMP DUTY.

WHICH IS THE EASIEST PROCEDURE.

A) SUPPOSE IF TODAY MY MOTHER MAKES WILL - IN FUTURE WHILE TRANSFERRING WHETHER ANY STAMP DUTY WILL ATTRACT - AT WHAT % (WHAT ARE THE DISADVANTAGES)

B) SUPPOSE AFTER MY MOTHER AS A NOMINEE I AM TRANSFERRING THE HOUSE TO MY NAME - WHAT WILL BE RATE OF STAMP DUTY (WITHOUT MAKING WILL )

C) SUPPOSE OUR SOCIETY IS CONVEYANCE - THEN SOCIETY WILL TRANSFER THE HOUSE TO MY NAME - WHETHER ANY STAMP DUTY WILL ATRRACT - WHETHER REGISTRATION IS MANDATORY.

REGARDS

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2 Replies

V. VASUDEVAN (LEGAL COUNSEL) 16 October 2013

A nominee is a trustee of the owner and after the owner, the society can register the property in the name of the nominee where no stamp duty is applicable.

However, nominee does not become absolute owner and if there are legal heirs other than the nominee, the property will vest in all the heirs name, including he nominee (if the owner does not leave a will). If the owner leaves will the property would go to the legatees as per the will.

Vasudevan

Om Prakash Shakya (Stenographer) 18 October 2013

Sir,

I have made my house in New Delhi in the year 2011 from my own source of income. I have three childen which includes two sons+ on daughter. The land was purchased by me through power of attorney in the year 1985 which are the only paper of my house with me. Since my eleder son who is married, is not going well with me, I wish to ask yourgoodself the following questions

(!) I want to execute revocable will in favour of my younger son only. What is the procedure to be followed up. Whether this is to be done in court or tehsil or anywehre else.

(2) Can my wife or elder son resist me from doing so or from selling the house, as wife is always supporting eleder son.

(3) In case I want to vacate the house from my elder son waht step should I follow.

Awaiting you reply on the above.

Thanks & Regards,

O.P. Shakya

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