Results for #alternate
Legal
#flat#loan#transfer#property#registration
I had purchased a flat 4 years back. My flat is in my sister(because she was the only earning member of the house) and my dad's name. We had taken a loan for the flat and since Jan 11 instead of my sister who bought the flat I have been paying EMI for the loan because she got married. I am not getting any benefits and so I wish to transfer the property in my name. Do I have to pay the stamp duty and registration charges again? Or do we have an alternate way to transfer it?
I had purchased a flat 4 years back. My flat is in my sister(because she was the only earning member of the house) and my dad's name. We had taken a loan for the flat and since Jan 11 instead of my sister who bought the flat I have been paying EMI for the loan because she got married. I am not getting any benefits and so I wish to transfer the property in my name. Do I have to pay the stamp duty and registration charges again? Or do we have an alternate way to transfer it?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The flat can be trasnferred to your name by your sister by way of a gift deed and the same would attract 2% stamp duty as per the provisions of the Bombay Stamp Act and a further 1% charge towards registration fees or Rs. 30,000/- whichever is lower on that account.
Legal
#purchase#attorney#alternate
I wish to purchase a house in India, I am of indian nationality, but live in Tanzania. Can my mother purchase it in my name through power of attorney, as I won’t be able to be physically present for a long time. Are there any alternate ways of doing this?
I wish to purchase a house in India, I am of indian nationality, but live in Tanzania. Can my mother purchase it in my name through power of attorney, as I won’t be able to be physically present for a long time. Are there any alternate ways of doing this?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, you can give a POA to your mother to conclude the sale on your behalf. The POA can be executed by you before the Indian Embassy in Tanzania or closest to you and the same can then be forwarded to India for adjudication and payment of stamp duty and thereupon your mother can utilise the same for concluding the sale.
Purchase & Sales
#options#buying#flat#owners#agreement
What are the options of buying a flat on a co-ownership basis? I wish to buy a flat in a breakdown of 70%, 20% and10% among three different owners. Is it possible to do this in the sale agreement itself? If not, then what would be an alternate option?
What are the options of buying a flat on a co-ownership basis? I wish to buy a flat in a breakdown of 70%, 20% and10% among three different owners. Is it possible to do this in the sale agreement itself? If not, then what would be an alternate option?
Answered on November 08, 2017
It is possible to define the proportion in the sale agreement
