LAW BOOK

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I am plan­ning to pur­chase an un­der-con­struc­tion flat in a res­i­den­tial pro­ject from the orig­i­nal al­lot­tee of the flat. What is the stamp duty payable?

—Mahin­der Gill No stamp duty is payable on a mere trans­fer of an al­lot­ment of the flat by the present al­lot­tee of the flat in your favour. Trans­fer of al­lot­ment of a flat is sim­ply a trans­fer of the right to pur­chase the flat by the orig­i­nal al­lot­tee in your favour. My de­ceased grand­fa­ther left be­hind properties in both the UK and In­dia. The will of my de­ceased grand­fa­ther has been proved and de­posited with a Court in Eng­land. What is the pro­ce­dure to be fol­lowed for ad­min­is­tra­tion of his properties that are sit­u­ated in In­dia?

—Roshan Sun­der As the will of the de­ceased has al­ready been proved and de­posited in a court of com­pe­tent ju­ris­dic­tion out­side the ter­ri­tory of In­dia, a pe­ti­tion un­der the In­dian Suc­ces­sion Act, 1925, may be filed for grant of let­ters of ad­min­is­tra­tion or an­cil­lary pro­bate by the com­pe­tent court, as the case may be, within whose ju­ris­dic­tion the properties are sit­u­ated in In­dia. I am the sole owner of a flat and want to in­clude my wife as a joint owner of the flat dur­ing my life­time. Can I re­lin­quish my own­er­ship in half the prop­erty in favour of my wife, as I do not want to take any con­sid­er­a­tion amount from her?

—T K Man­ish Pre­sum­ing that the flat is a free­hold prop­erty and that trans­fer of any rights does not re­quire any prior per­mis­sion, a valid re­lin­quish­ment of prop­erty can­not be made in favour of a per­son who is not al­ready a co-owner of the prop­erty. As you are the sole owner of your flat, a trans­ac­tion of re­lin­quish­ment of own­er­ship of a por­tion of the flat in favour of your wife shall be treated as a gift/sale/con­veyance in her favour in­stead and shall also be sub­ject to stamp duty and regis­tra­tion charges payable on gift/sale/ con­veyance ac­cord­ingly. If you wish to trans­fer own­er­ship of the prop­erty dur­ing your and her life­time with­out tak­ing any con­sid­er­a­tion amount from your wife, you may ex­e­cute a gift deed in favour of your wife for half, un­di­vided por­tion of the flat. The gift deed should also be duly stamped and reg­is­tered.

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