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Samson Jathanna trying to transfer property
03-Oct-2023 (In Property Law)
Sir,
I am 44 years old and married since last 15 years old. My wife is 43 years old and have a son whose age is 14 years(Minor). We have a property in Vikhroli Mumbai on MHADA land, which i would like to transfer to my wife and minor son with 50% rights each. The property in my sole name( i had purchased it 16 years back) and share certificate issued by society is in my name.
1. Is that legally possible to have the MHADA property to my wife and minor child with 50% shares? Is there any problem with MHADA or other law barring that?
2. What are the charges to be paid to the MHADA and government to do the transfer, assuming that we have paid the regular MHADA rent on time?
3. Is gift deed the best method and what could be the approximate cost to the government / MHADA?
Samson
1. Is that legally possible to have the MHADA property to my wife and minor child with 50% shares? Is there any problem with MHADA or other law barring that?
Answer: You can transfer the property after 10 years only. Also since it is family, you can execute a Gift Deed. Though you can give a gift to your wife you cannot gift it to minor son;
2. What are the charges to be paid to the MHADA and government to do the transfer, assuming that we have paid the regular MHADA rent on time?
Answer: You will need NOC from MHADA office and you have to pay basic charges;
3. Is gift deed the best method and what could be the approximate cost to the government / MHADA? Samson
Answer: Do not execute a Gift Deed now. You must first execute a Will. Once your son attains majority then make a Gift Deed.
Answer: You can transfer the property after 10 years only. Also since it is family, you can execute a Gift Deed. Though you can give a gift to your wife you cannot gift it to minor son;
2. What are the charges to be paid to the MHADA and government to do the transfer, assuming that we have paid the regular MHADA rent on time?
Answer: You will need NOC from MHADA office and you have to pay basic charges;
3. Is gift deed the best method and what could be the approximate cost to the government / MHADA? Samson
Answer: Do not execute a Gift Deed now. You must first execute a Will. Once your son attains majority then make a Gift Deed.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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