I have a commercial property on the name of father .He passed away last year without leaving any will. I have to mortgage property in the bank ,they are asking me for the clear title ,is there any way to do the mutation of the property without much stamp duty as succession will attract huge amount of the tax as value of the property is around 5 crore . please guide me for the same
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1) you need to obtain letters of administration from court
2) it does not take more than 6 months
3) in Maharashtra maximum stamp duty is around Rs 75000 for LA even if porperty is valued at 5 crores
4) local lawyer can guide you as to stamp duty in UP on LA
5) after obtaining LA apply for mutation of property in name of legal heirs
6) enclose father death certificate
7) indemnity bond , affidavit
8) receipt of payment of property taxes
Succession certificate is not required for immovable properties.
You can get a legal heirship certificate from the revenue department.
On the basis of the legal heirship certificate and the death certificate of your father, you can apply for mutation of revenue records, but before that you may have to obtain NOC or replenishment deed from other legal heirs to your deceased father after which you can apply for mutation of revenue records.
After the demise of your father his legal heirs should apply for mutation in the office of tehsildar. Mutation does not require any stamp duty to be paid. The title should be clear if you apply to the bank with the original title deed of the property, death certificate of your father and mutation certificate.
