Legal Question in Real Estate Law in India

My elder daughter and my younger daughter have exactly 50% share each in a plot of land costing a total of Rs. 16 lakh duly registered over 3 years ago. My younger daughter wishes to book for a new flat and desires to sell to my elder daughter her share cost of Rs. 8 lakh plus Rs. 3 lakh premium.

Question 1. What documentary regularization is required for this, such that registration is not payable again?

Question 2. Even after payment is exchanged, my elder sister would like my younger sister�s name to continue for some time, instead of including her husband�s name right now. With this new element, how should we proceed please?

Thanks

D C Bhargava


Asked on 12/28/12, 4:31 am

3 Answers from Attorneys
uttam Tibrewal

Mr D C Bhargava

As per you question its better to make a settlement deed and transfer her share to her sister this will save registration cost ....

once the transfer is made do not make any changes in other Govt records... let it go as it is ... whn you feel like changing then make the changes in Govt records

for any further help do mail me at [email protected]

Read more
Answered on 12/28/12, 5:03 am
Fca Prashant Chavan Expert Edge LLP

29.12.2012

Dear D C Bhargava,

1. Since the land is already registered in the name of your daughters, no re-registration is involved in a financial settlement. Your elder daughter pays off Rs. 11 lakhs to your younger daughter with a receipt stating that she has no claims whatsoever in the title of the land and the matter is over.

2. Immaterial question; left to the sole discretion of your elder daughter to do as she best deems fit.

Regards,

FCA Prashant Chavan

Mumbai

Read more
Answered on 12/29/12, 3:59 am
Shrichand Nahar S.V.Nahar, Advocate

1. No escape from stamp and registration.

2. Make appropriate sale deed as may be mutually agreed between vendor and purchaser.

Read more
Answered on 1/02/13, 9:01 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in India