Sale deed should be executed in joint names
2) both can be joint owners of house
3) later deed of partition for division of house can be executed duly stamped and registered
We are buying house of two floor which we can make as 2 individual house..as our father selling old house which father taking new house with contribution by we both sons 25 %.In sale deed what should we include.Should we include joint ownership? If so how should be floor division?
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Sale deed should be executed in joint names
2) both can be joint owners of house
3) later deed of partition for division of house can be executed duly stamped and registered
Hi,
It is better to make joint ownership and divide the rooms/facilities for each accordingly as per the share decided by you among yourselves.
Yes, you can make joint ownership and make clear title of partition initially so later you should not have any proble. legally and possession wise.
Is any rule elder should take ground floor and yonger 1st floor.
Hi,
There are three source of law i.e. customs and traditions, law by legislation and precedent. In the present case by virtue of age and convenience, you may graciously give ground portion to elder person. There may or may not be law or rule on your issue, but the general clause/principle of respecting elders and taking their care can't be ruled out by by any law. Here the logic that elder person will have more comfort by avoiding stairs will be never be ruled out.
No, there is no such rule, but the choice of the property partition share younger has given first choice in the society.
No such rule, Floor ownership shall be by mutual discussion. Both will have equal half right in land and father`s and your contribution will mention in sale deed so that both brother claim rebate in tax and father for excemption of long term capital gain tax.
If you are purchasing it as a single building in a joint registered sale deed, you can draw a partition deed at a later date as per mutually agreed conditions with respect to the common areas besides dividing the property into two as floor wise and common areas including parking space, terrace etc.
Get the partition deed registered.
1. In sale you can make a joint deed and after that you can make a registered partition deed to divide the share in the property.
You can include joint ownership or nay other deed between you in form of settlement by paying appropriate stamp duty and registration
1. The sale deed can be registered jointly in your and your brother's favour.
2. So far as the division of house is concerned, a partition deed can be executed between you, your brother and father.
3. There is no law which says that elder brother should take the ground floor.
If joint ownership deed stamp duty and later in month if we r going for partition deed is stamp duty is nominal/ exampted
What is the need of partition , use less extra stamp duty payable. Mention in sale deed , joint ownership and this portion will owned by him , this by you.
when you are going to execute partition deed then you have to pay stamp duty as per state law.differ from state to state.
No, it would be better to do that this time. Also, if you are unable to do this time, later don't go for partition, rather family settlement deed to avoid wastage of money on stamp duty.
Dear Sir
You should opt for joint ownership of new house as it will save you from future legal disputes and the division of floor can be done on mutual understanding between both the brothers or according to father's wish.
There is no such rule regarding distribution of floors between brother
Any time you are getting a document registered for whatever purpose it may be, you are required to pay the stamp duty until and unless the government has exempted payment of stamp duty to certain documents.
The property which we are buying is came from a mother to a 1st son in 4 siblings by courts Compromise decree where in 3brotheres 1sister mutually agreed and made sole agreement in the name of elder brother (1 son) but not registered withing due date in front of sub register....my question is whether we can legally buy from Elder son ?
See if the decree is not registered you should not purchase the property in case decree of court is there and registered you can go ahead.
If it has not been registered in name of elder brother then he doesn’t have the title to sell the land to you