Pls suggest best & cost effective way of distribution of parental property under Muslim law in Bihar: 1. Both parents ( father & mother: about 50% each )have property in their name , however, now father is no more 2. Brothers & sisters wants to make its comfortable legal ownership documents 3. Since mother will also have her small share from Father‘as property as per Muslim law . Also mother is also having about 50% of the property in her name . Can she distribute her and her new share ( total property) to her children ( sons & daughters) . Mother is willing to do that to avoid any complications in future. What is best way to distribute the property of father & mother in such scenario. Wether WILL from mother will do in the name of sons/daughters or it would require proper registration in the office of Registrar . Wether stamp duty will be levied and it would treated as Sale transaction if mother wants to put ownership of her share & existing property to her children. 4.All sisters or some of them also wants to sell / give their share to brothers after taking a reasonable/ market price of the property from brothers. In case of such transactions wether it would be treated as sale from sisters to brothers and it would attract Stamp duty and what rate ? Wether there is a provision to avoid stamp duty in such cases as it’s still parental property remains with brothers. Both brothers & sisters wants a proper title . 5.Children wants to make some investment ( say construction of row houses/ flats on these properties but before making any such investment on these properties, they want to have proper title of the property to avoid any future complications. Pls suggest optimized way forward but with proper title document.
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Mother can execute a Hibanama for her share in property
2) although registration is optional advisable to get it registered
3) sisters can execute sale deed for their share in property
4) mother can execute will only for her one third property . Hence gift deed is best option
You can execute family settlement agreement for the same and register it
Dear client,
the mother can distribute her property in this scenario. Will is also possible but it is recommended to register in the sub-registrar office as it can reduce future legal discrepancies and it can be treated as a sale transaction.
Thank you
3. Your mother, if desirous of transferring her share of property both on her name and the inheritance from her deceased husband, she can do so either by executing a 'hibanama' or a registered gift settlement deed as per Transfer of property act.
4. The sisters, if willing to give away their share in the proeprty to their brothers without paying stamp duty, they can transfer the same by executing hibanama in respect of their shares in the property.
However they cannot mention the consideration received towards this hibanama.
If you want to mention the passing of consideration amount towards the relinquishment of their rights in the proeprty, then it would be advisable that they execute a registered release deed, which would attract very less stamp duty, i.e., 1% of the value of their share in the property.
5. In that case you can adopt the measures suggested above.
