467+ Lawyers are online 
How does division of property jointly owned by siblings happen
16-Apr-2023 (In Family Law)
Two siblings, A & B jointly bought and own 50% each in two properties, Property 1 worth Rs.100 and Property 2 worth Rs.50. Total share of A and B across both properties is Rs.75 each. A & B have decided that A assumes 100% ownership of Property 2 and reduces A's share in Property 1 to 25% of value while B increases B's share in Property 1 with 75% ownership and reduces B's share in Property 2 to 0%. Post this arrangement A and B will own property worth Rs.75 each. How can this arrangement be legally executed? What are the other legal implications in terms of tax/capital gains?
You both can do this by way of execution of two separate transfer deeds in blood relation without paying stamp duty. For his you both are required to produce proofs of your blood relationships. Otherwise you both can execute two fresh sale deeds of your decided shares for which you have to pay stamp duty. Both are legal.
Helpful?
13+
13+
Adv. Arun Kumar Gupta
Faridabad | 25+ Answers
CONTACT NOW
Hello app court me civil suit file kr skte ho ..agr apke pass documents h...jo app court .me proof kr sko...and court me partition and declaration ka suit file hoga
Helpful?
13+
13+
Adv. Neelam Rai
Faridabad | 100+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Family lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
