Dear Mr Reddy, I have one flat in Mumbai. It is jointly owned in my name and my wife's name. My wife expired recently. Questions:- 1> How do I get my wife's name deleted from the Flat ownership document ? i.e. If I submit the death certificate to the co-operative society, will they be able to delete her name in the share certificate ? Or will they ask me to get the purchase Agreements amended through the Registrar of Stamps ? 2> If I want to transfer the flat in my son's name (who happens to be an NRI), whats the procedure ? I would like to get it registered in my son's name by paying the Registration charges. (Presuming there would not transfer be any Stamp Duty involved). 3> Instead, If I wish to transfer my wife's share of the flat to my son, and I continue to be a joint owner, what are the steps ? Thank you very much! Sri
1 Answers
Dear Sir,
1 - Flat ownership document - Are you referring to Share certificate only or Sale deed?
I believe that you can request your Society to delete her name from the records, you can continue to be Sole owner of the property and you can nominate your Son as the nominee.
As you are one of the co-owners of the flat, it automatically passes on to you, no need to take NOC too from your son.
2 - Yes, you can GIFT the property by executing a gift deed. Normally the stamp duty / registration charges are very nominal if it is done among the family members. The charges vary state to state. Kindly read : https://www.relakhs.com/gift-income-tax-rules-detailed-guide/ https://www.relakhs.com/real-estate-property-transfer-deed-types/ 3 - You can gift a share in the property to your son and inform your Society to update the records (for joint ownership) accordingly.
2 - Yes, you can GIFT the property by executing a gift deed. Normally the stamp duty / registration charges are very nominal if it is done among the family members. The charges vary state to state. Kindly read : https://www.relakhs.com/gift-income-tax-rules-detailed-guide/ https://www.relakhs.com/real-estate-property-transfer-deed-types/ 3 - You can gift a share in the property to your son and inform your Society to update the records (for joint ownership) accordingly.
Thank you Mr Reddy! I will get back to you with any further questions.
really appreciate your help!
Sure. You are welcome!
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