LAW BOOK

HT Estates - - HTESTATES - Su­nil Tyagi

I want to pur­chase the ground floor of a two-storey prop­erty which in its en­tirety was jointly in­her­ited by two sib­lings. The sib­lings’ fam­i­lies re­side on sep­a­rate floors of this prop­erty. The owner who lives on the first floor is un­will­ing to join in the ex­e­cu­tion of the sale deed of the ground floor in my favour. What do I do?

—Son­akshi Jha Since the prop­erty is jointly owned by two in­di­vid­u­als, each in­di­vid­ual has un­di­vided share in the en­tire prop­erty which is not iden­ti­fi­able by metes and bounds, even though cur­rently each in­di­vid­ual may ac­tu­ally be re­sid­ing on sep­a­rate floors. Since you are plan­ning to pur­chase only the ground floor, the sale deed in your favour for this spe­cific por­tion of the prop­erty is re­quired to be ex­e­cuted by both the owners, given that they both have joint and un­di­vided share in the ground floor. How­ever, in case the joint owner who is oc­cu­py­ing the first floor is un­will­ing to ex­e­cute the sale deed in your favour in re­spect of his un­di­vided own­er­ship in the ground floor, the next suit­able al­ter­na­tive is to pur­chase the ground floor af­ter the en­tire prop­erty has been par­ti­tioned by metes and bounds. What is the ap­pli­ca­ble stamp duty rate and reg­is­tra­tion fee on sale deed of a prop­erty pur­chased by a woman in Delhi?

—Snighdha Gupta In Delhi, duty rate payable on sale deed/con­veyance deed of an im­mov­able prop­erty which is pur­chased by a woman or in favour of a woman is 4% (out of which 2% is to­wards stamp duty and 2% is to­wards cor­po­ra­tion tax). Cur­rently, reg­is­tra­tion fee for sale deed/con­veyance deed of an im­mov­able prop­erty in Delhi is one per­cent of the con­sid­er­a­tion amount set out in the doc­u­ment or of the value cal­cu­lated as per pre­vail­ing cir­cle rates – which­ever amount is higher, and sub­ject to a min­i­mum fee of ` 1,000. I am a Hindu male and own cer­tain co­parce­nary prop­er­ties. Can I write a Will for set­ting out suc­ces­sion of such co­parce­nary prop­er­ties?

—Shob­hit Ku­mar Yes, you may make a tes­ta­men­tary dis­po­si­tion of your own un­di­vided share in the co­parce­nary / an­ces­tral prop­erty un­der your Will. The au­thor is se­nior part­ner, ZEUS Law As­so­ciates. If you have any query, email us at ht­es­tates@hin­dus­tan­times. com

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.