Legal Question in Real Estate Law in India
transfer of right,co-ownership in co-op. soc.
I am residing for last 12 years in a flat and in the year 2004 mother has nominated flat in my name.Father expired prior to mother.My married sister and younger brother had given no objection to transfer it in my name.Now the society is going in for redevelop. and they want to their name entered as co-owner.
would it amount to transfer & whether stamp duty, registration, transfer fees to be paid to society would be applicable?
2 Answers from Attorneys
Re: transfer of right,co-ownership in co-op. soc.
A nominees is merely trustee of legal heirs.
If names of all the legal heirs are recorded by the Society as owners of the flat or shares, then it will not amount to transfer.
Re: transfer of right,co-ownership in co-op. soc.
No, it will not attract any stamp duty etc. If other legal heris are to be included as co-owners, they will enjoy that right by virtue of inheritance.
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