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Need to transfer flat in legal heirs name
11-Jun-2023 (In Property Law)
I am the only legal heir to my parents, my father is no more & mother 80 is hail & hearty. Our society members are requesting all members to get a gift deed done to transfer the flat in the legal heirs name stating that it will be a very cumbersome process after the death of parents to include the legal heirs name in society records & transfer the flat in legal heirs name. Please guide if the above is true & what is the correct procedure to transfer the flat in one's name being the only legal heir after death of parent or property (flat) owner. What would be the approx cost & time taken in this entire process.
your mother can make a gift deed thereby transferring the said flat to you in your name. the only thing is the said Gift Deed requires Registration. The process of registration is Compulsory for a Gift Deed.
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Adv. Siddharth D Magdum
Mumbai | 25+ Answers
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By way of gift deed.on 25/03/2005 govt. waive stamp duty on transfer of land or flat immovable property to kin or family member now mother can gift his son for that 1percent (all taxes)plus 500rupees is to pay for gift deed. Regarding Hike of 3percent notification is not yet received.
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Adv. Meena Chaudhari
Navi Mumbai | 100+ Answers
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