Dear sirs, I need to transfer a property based in Mumbai and registered in the name of one deceased Mr SK to my father's name who is the sole legal heir. Mr SK did not have any issues and his widow is willing to provide her consent for the said transfer. My father is the legal heir by virtue of being the only son of Mr SK's sister. What would be the appropriate process to follow to get the transfer done (gift/release) in case of no will being present? (For additional information, said property has a G+2 structure built on the landlord/pagdi system. We follow islam, if the religion code will come into play). Awaiting your response, Regards.
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1. Your father is not the legal heir of SK as long as his class-I heir i.e.his widow is living,
2. In presence of widow of SK, your father inherit no share from his material uncle.
3. However widow of SK if she is willing can transfer her share in the property in favour of your father by way of deed of gift.
Dear Adv Barman, Thanks for the elaborate response. In which case, I assume a release deed will not be applicable (considering this cannot be termed as ancestral property?). If a gift deed is executed by SK's widow, what will the stamp duty and registration cost come to and what time could the process take, on average? Thanks and regards.
For gift deed, you need to check from registrar's office as rate of stamp duty differs from State to State, it may not take more than a week from drafting to getting the same registered.
1. Gift deed is better option than a release deed since your father has no original share in it.
2. Stamp duty differs from state to state. In state of WB the stamp duty for gift deed among members is mere .5% of market value of property.
1) The wife is entitled to one-fourth if the husband dies childless. sister will get her share in brother property as legal heir .
2) in the present case since the premises are on pagdi basis get the rent receipt first transferred in name of the widow .
3) under provisions of maharashtra rent Act since widow was staying with her husband in said premises let rent receipt be transferred in her name .
4) she can later request landlord to transfer rent receipt in favour of nephew .
Dear Adv Sethi, Thanks for the response. We are the landlords and not tenants of the entire pagdi premises. In which case, what would be a prudent way to carry out the property transfer? Transfer 25 percent of said premises to my father's maternal aunt (SK's widow) and remaining 75 percent directly to my father (my actual grandmother, who was SK's sister, has also expired). And then proceed to transfer the 25 percent in my father's name via gift/release? Or have 100 percent transferred to father's maternal aunt and thereafter to my father? Your reply would be highly appreciates. Thanks and regards.
transfer Sk widow share in her name . she can then execute gift deed in favour of your father