What are the steps required to formally transfer the Flat that was owned by my Father and Mother to My Brother and I . Property is in Pune. Mother passed away first ( 2010). Father passed away in 2014. Flat is part of a cooperative housing society. There is no dispute between my brother and I. We just want to complete the formality and have proper documentation in the event a sale is required in future etc. What are the specific documents a buyer/or developer will look for in order to purchase this property?
1) since your parents died intestate apply for and obtain letters of adminstration from court in the your name and that of brother
2) enclose father and mother detah certifcate
3) it should not take more than 6 months
4) on basis of letters of adminstration apply to society for transfer of flat in your joint names
buyer will seek following documents
1) NOC from society for sale of flat
2) death certifcate of parents
3) LA from court
4) proof of paymenty of society maintenance dues till date
5) original documents of flat
1. Do note that on death of your parents both of you become it's lawful co-owner provided you have no more brother and sister.
2. So if you produce the death certificate and heirship certificate then society would transfer the flat in both of you.
3. Thereafter if any of you wish to make another sole owner of the flat it can be done by way of deed of gift or deed of relinquishment by the releasing brother.
4. The property can be sold by both of you even without doing this formality.
Thank you for your quick response. Extremely helpful and Much appreciated. we often hear discussions about succession certificate. Based on your response it looks like we do not need to pursue that. Is this correct? Regarding Transfer I am in a travelling job . Can the same task be done by either of us or do both of us have to be physically present to do the LA. Where exactly is the 'Court' in Pune where I can execute this procedure? Are these standard forms and templates? Regarding Sale Questions Can you clarify what you mean by "5) original documents of flat " . We have in our possession the Index II for the property?
1) it is always advisable to obtain letters of adminstration from district court
2) you can execute power of attorney in favour of your brother . he can file petition for issue of LA in court
3) letters of adminstration would have to be filed in district court in PUne
4) your local lawyer will guide you
5) original ddocuments of flat would be regd sale deed wherein your paarents purchased flat from builder
Upon the intestate death of the owners i.e., your parents, the property left behind by them shall automatically devolve on their legal heirs.
Since you both are the only legal heirs, you can obtain a legal heirship certificate from the local revenue department, apply for mutation of revenue records in your joint names, transfer the records for tax and other utilities on your joint names, apply for share certificate in the society in your names jointly, secure all the records and can dispose the property jointly in the future on the basis of the records so secured.
Extremely helpful and Much appreciated. we often hear discussions about succession certificate. Based on your response it looks like we do not need to pursue that. Is this correct?
Succession certificate would be required only for the movable properties.
I am in a travelling job . Can the same task be done by either of us or do both of us have to be physically present to do the LA. Where exactly is the 'Court' in Pune where I can execute this procedure? Are these standard forms and templates?
You have to spare time for getting the task done in your favor at the earliest since these matters should not be postponed beyond certain limit.
The requisite formalities can be done through the document writers having office near registrar's office, you can approach one.