• Transfer of under construction flat in a society in Noida

Hi!sir,I am having a under construction flat in Noida and now I have to pay last installment but I want to transfer it in the name of my daughter so that she can get possession letter and hence registration in her name.

Secondly I should get it registered on my name and then transfer through power of attorney and then get it registered on my daughter's name.

My confusion is here that whether I should register it now on my name and make a will that it can be transferred to her after my death.
Pls. advice,which option is the best.
BR
Asked 4 years ago in Property Law
Religion: Hindu

First answer received in 30 minutes.

Lawyers are available now to answer your questions.

13 Answers

I would advise you to get the property registered in your name first. And if you feel like giving the property to your daughter in future, you can draw a gift deed in favor of your daughter. This document allows you to gift your assets or transfer ownership without any exchange of money. To gift immovable property, you just have to draft the document on a stamp paper, have it attested by two witnesses and register it. Registering a gift deed with the sub-registrar of assurances is mandatory as per Section 17 of the Registration Act, 1908, failing which the transfer will be invalid. Besides, such a transfer is irrevocable. Once the property is gifted, it belongs to the beneficiary and you cannot reverse the transfer or even ask for monetary compensation.

The benefit with Gift deed is that State governments offer a concession on stamp duty rates if the property is gifted to blood relatives.

You can also get a will in your daughter's name duly registered, but rights would be trasferred on your demise.

Siddharth Jain
Advocate, New Delhi
5933 Answers
101 Consultations

5.0 on 5.0

If you want the property to be transferred to your daughter name at a later stage, then you first get the property registered on your name now.

After taking possession and sitting peacefully at home, you can plan to transfer the property to your daughter's name by any mode whichever is convenient to you.

If you want to bequeath the property in her favor you can very well write a will duly signed and attested by two witnesses, get it registered (registration is not mandatory), so that she can avail or acquire the property after your lifetime.

T Kalaiselvan
Advocate, Vellore
78133 Answers
1543 Consultations

5.0 on 5.0

If in my will ,I put my daughter name and then after my demise,how much she has to pay for registration on her name.

There is no registration required for acquiring the property by a Will.

She has to just transfer the revenue records and not the registration records.

Therefore no charges will apply for this type of transfer.

T Kalaiselvan
Advocate, Vellore
78133 Answers
1543 Consultations

5.0 on 5.0

1. If you transfer the flat now to your daughter then the builder will require you to pay transfer fee at some rate per square foot. The rate should be mentioned in your allotment letter or agreement

2. Second option would be you can execute a gift deed in favour of your daughter after you get possession of the flat. The stamp duty on a gift deed in favour of a close relative should be nominal which depends from state to state. You will have to register the gift deed

3. Third option will be making a Will in favour of your daughter for the flat. There is no cost whatsoever involved in making a Will. It can be made on a plain paper without stamp duty and registration. But title to the flat will pass on to your daughter only after your demise. Also there is no stamp duty applicable when the flat will be transferred to your daughter's name by the executor named in the Will. But a Will may be challenged by other legal heirs in which event the transfer would get stuck. Also you have to check if probating the Will is mandatory in your state.

4. So considering the uncertainties of life, in my opinion the best option will be to transfer the flat to your daughter's name in your lifetime itself before possession is handed of the flat. So option no.1 is my suggestion. You will have to incur some cost like transfer fee to be paid to builder but then it's worth the bet.

5. If you can wait for sometime and if the possession of the flat is nearing then gift deed will be the second best option in my view with the least cost involved.

6. So it's a call which you need to take

Yusuf Rampurawala
Advocate, Mumbai
6882 Answers
79 Consultations

5.0 on 5.0

Make a will. no need for her to get it registered in her name she may get name changed in minispulity on the basis of will ,if so desire she may file a declaration suit.

Abhishek Bhatnagar
Advocate, Lucknow
16 Answers

Not rated

Sale deed should be registered in your name

2) you can bequeath flat to your daughter by will

3) will should be attested by 2 witnesses

Ajay Sethi
Advocate, Mumbai
87976 Answers
6207 Consultations

5.0 on 5.0

Probate is not mandatory in Delhi

2) on your demise she can apply to society to transfer flat in her name

3) enclose copy of will , your death certificate

4) she will not have to incur any expenses for transfer of flat in her name

Ajay Sethi
Advocate, Mumbai
87976 Answers
6207 Consultations

5.0 on 5.0

This is my response to you:

1. It is always a risky business especially when you are planning to change the name of the buyer before the possession and ownership, you will need NOC from builder, NOC from other legal heirs etc.;

2. It is advisable that once you become the owner i.e. after the registration of the Sale Deed, then you transfer the property;

3. Once you become the owner you can execute a Gift Deed in favour of your daughter or make a Will;

4. After your demise your daughter will be required to pay the charges for probate petition in court (in Delhi probate not compulsory) and the basic minimum charges (prevailing at that time) for the registration of the property.

Gowaal Padavi
Advocate, Mumbai
1920 Answers
5 Consultations

5.0 on 5.0

After your demise, your daughter would have to pay a very small fee as registration fee to get the property transferred in her name.

Moreover, probate is not mandatory in Delhi, so it would be easy involving meagre expenses of your daughter to get the property mutated in her name.

Siddharth Jain
Advocate, New Delhi
5933 Answers
101 Consultations

5.0 on 5.0

1. It is always advisable to register the flat i your name and then register a will in favour of your daughter or any body you wish to who will get it after your demise.

2. Since then property is in Delhi, no grant of probate of the said will shall be required to be taken by your daughter to claim the title of the said flat after your demise.

Krishna Kishore Ganguly
Advocate, Kolkata
26614 Answers
726 Consultations

5.0 on 5.0

1. You shall register the will with negligible expenses now.

2. There after your daughter will not require to spend any money towards registration of the will or for obtaining probate for the will as explained in my earlier advise.

Krishna Kishore Ganguly
Advocate, Kolkata
26614 Answers
726 Consultations

5.0 on 5.0

Dear Sir,

You have all the intentions to give the property to your daughter. However during your lifetime, you may keep the property with you and only after your demise you may transfer the property in the name of your daughter. You may execute a WILL to this effect.

You may require the property in case of any need in future or may be needing to sale the same or something else or some other purpose.

Jai Bansal
Advocate, New Delhi
198 Answers

5.0 on 5.0

Get in your name, than can GIFT to daughter in your life time or WILL, than after your life.

OR

Buy in joint ownership and than release your share in her.

No registration charges if property received through WILL, just official fees to transfer ownership in Municipal records.

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

Ask a Lawyer

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