• Transfer of under construction flat in Mumbai within family

Hello, my father owns a flat in Mumbai which is under construction. He has an allotment letter, but flat has not been registered. He would like to transfer the flat to my wife (his daughter in law) immediately and not wait till registration. 

Question:
What is the easiest way to do this and how long does it take
Does she have to be in Mumbai during transfer or can she just give power of attorney to someone to do it on her behalf
Are there any risks associated with doing transfer?
Asked 7 years ago in Property Law
Religion: Hindu

Ask a question and receive multiple answers in one hour.

Lawyers are available now to answer your questions.

9 Answers

1) your father has to request builder to transfer the under construction flat in his DIL name

2) builder would agree to do so provided your father indemnifies the builder in case any claims are made

3) your wife can execute POA in favour of family member to complete the transfer formalities

4) there are no risks associated with the transfer

Ajay Sethi
Advocate, Mumbai
96803 Answers
7810 Consultations

1.In that event at the time of registration of flat your wife can become purchaser and your father the confirming party.

2. On that basis shae certificate can be changed in the name of your wife.

3. If she gives registered POA to you before then at the time of registration of sale deed her personal presence is not required.

Devajyoti Barman
Advocate, Kolkata
23198 Answers
510 Consultations

he can execute a POA or make a gift. transfer of property through POA is valid if property is being transferred to a family member. no stamp duty is required. he can also make a gift but gift tax will be applicable.

so it is easy to execute a irrevocable POA.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

1) POA in favour of family member executed in USA should be attested before Indian consulate

2) mere notarised POA is not valid

Ajay Sethi
Advocate, Mumbai
96803 Answers
7810 Consultations

document notarised before Indian consulate after payment of requisite fee and it is admissible in India. you can notarised the letter in usa.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

The transfer of property which has not been registered on the name of the transferee yet can be done by entering into a tripartite agreement with the builder and your wife.

The conditions of payment and other details may be clearly mentioned in the proposed tripartite agreement.

The risk associated with the transfer depends on how you are complying with the legal formalities in this regard.

She can even execute a registered POA in favor of anyone to represent the matter ion her behalf including signing the papers.

T Kalaiselvan
Advocate, Vellore
87004 Answers
2335 Consultations

Just one follow up on the POA - My wife (allottee) is a US citizen now and we live in the US. Can we get POA to a family member in india on a letter signed and notarized in the US? Is that accepted in india?

Yes, it is valid, provided the POA is executed and registered before the concerned registrar's office within the jurisdiction where the property situate.

T Kalaiselvan
Advocate, Vellore
87004 Answers
2335 Consultations

1. Your father shall have to negotiate with the builder and after paying the fees for transferring the allotment in favour of third party can get the flat reallotted in favour of your wife.

2. Before issuing the re-allotment letter, the builder will ensure that all the dues are paid by your father to them.

3. After the flat is re-allotted in favour of your wife,she will step in to the shoes of your father and the flat will be registered in her favour.

4. Such re-allotments are a common practice in Metro Cities now a days.

5. For such re-allotments, she need not be present in India but can send her application for the re-allotment through email.

6. It will be a reallotment of flat only from your father to your wife and not any sale for which no POA will be required.

Krishna Kishore Ganguly
Advocate, Kolkata
27453 Answers
726 Consultations

1. Your wife is an USA citizen with OCI card holder.

2. The property can be re-allotted in her name based on the application to be filed by your father and also your wife to the builder after paying the re-allotment fees for which no POA will be required as explained in my earlier post.

Krishna Kishore Ganguly
Advocate, Kolkata
27453 Answers
726 Consultations

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer