Legal Question in Real Estate Law in India

Respected Sir/Madam,

Sub - Payment of Stamp Duty under Bombay Stamp Act

Facts of the case-

Mr A was the owner of a property in the co-operative society wich he had acquired from his self generated rsources.Mr A suddenly died in the year 1999 leaving behind a WILL but there was no nomination in the co-operative society for the property. Mr A was married but his wife had deserted him, officially the divorce had not taken place. There was no issue out of their marraige � In his WILL Mr A had specifically stated that none of his assets (including the said property) should go to his wife. According to Mr A 's WILL, his married sister - Smt C being the executrix of his WILL should ensure that his assets should devolve to his parents in equal ratio (50:50). And as per the WILL of parents all their assets should be devolved to their married daughter as there was no other lagal heir.

The WILL of Mr A was challenged by his deserted wife Smt B and hence Smt C (married sister of deceased Mr A) filled a peteition of obtaining the PROBATE of the WILL.

In the due course in the year 2005 there was a settlement between Smt B (deserted wife of deceased Mr A) and Smt C (married sister of deceased Mr A) whereby Smt C paid Rs 5 lacs (lumpsum) to Smt B and inturn Smt B gave NOC in favour of Smt C for all the assets of Mr A (including the property).

In the year 2006 Smt B (deserted wife of Mr A) died, leaving behind Smt C (married sister of Mr A) as the sole legal heir.

Thereafter in the year 2008 PROBATE of Mr A's WILL was granted by the honourable Court. Now Smt C wants to make application for transfering Mr A's property in her own name.

Query - In the above case - does any of the transaction attract stamp duty under Bombay Stamp Act?

If yes, then which transaction? and what will be the rate of stamp duty?

1 Answer from Attorneys

Related Questions & Answers

More Real Estate and Real Property questions and answers in India

Looking for something else?