My Father and his brother constructed a building in Pune, Maharashtra in 1947.
The building had six flats.
In 1977, after the death of my father as well as my uncle , a partition deed was signed between heirs of the two brothers. Each family inherited 3 flats. Entries were made in property card accordingly.
In 2013, since the building had become old , both the families decided to demolish the old building and construct a new one jointly.
The building was completed in 2016. Both families contributed their share equally.
New building has 5 flats of different areas.
As per our mutual agreement me and my brother have been allotted 3 flats and my cousins (2 brothers and one sister) have been allotted 2 flats. Both shares are equal in value.
In the new arrangement, me and my brother own one flat each individually and on flat jointly.
My cousin sister is selling her share to her brothers and they will own one flat each.
1.We want each flat to have clear marketable title with proper entries in property card.
2. What document we need to make. What will be the stamp duty.The largest share is 25%.
3. We had made a MOU/Consent deed but the registrar refused to register the document.
Asked 7 months ago in Property Law
In 1977 partition deed between two families was done. Do we have to make one more partition deed between the families? Will there be one document between the cousins and second document between me and my brother.We want EACH FLAT TO HAVE CLEAR MARKETABLE TITLE i.e. I should be able to sell the flat in my name without requiring signature of anyone else. The flat jointly held will obviously require both brothers signature.
You have not indicated what will be the rate of stamp duty and registration.Kindly advise.
Asked 7 months ago