Advise needed to Transfer of Ownership of property from Parents
Three years back I purchased a single storey house in the joint name of my Parents . I am only one son of my parents and I got two sisters, both are married and well settled in their own family. Last year I constructed first floor and second floor as well as on that house. Now parents are forcing me to tranfer the ownership of the property in my name. Please advise me what are the different and safe ways to transfer the property legally in my name? Whether I have to go for re-registry from them or should I go for registered will or any other means? Please advise me the different ways and Pros and Cons of that.
I really appreciate your valuable advise. With Thanks
2 options: If you are sure enough that no one (including your sisters) will ever claim for their share and your parents will never change their mind, request your parents to make a properly registered will in favor of you.
BUT If you want to be 100% sure considering that your sisters may also dispute your absolute ownership in future or parents may change their mind later and will too, get it registered in your name by paying the stamp duty on the complete cost of house. Keep all the documents relevant to payments which you have done when you purchased/constructed the house as proof, it will help you in case of any dispute. Keep your kabja on property.
Thanks a lot for your response. If a registered will has been made and parents are not chaging their mind but if sisters are claiming their share in property in future, is there any possibility to encounter any complexity in future? Also even if after the will this property I have to register in future in my name...please clear me.....Also is there any other way to save on stamp duty for registration if I want to go for registration, please advise me.
the problem is that if your sisters want, they can certainly challenge the registered will in court on many true/false grounds e.g you forced/misguided/etc the parents to draft such will, the money which was paid to buy/construct house was parental income(not only yours), it is a hindu undivided parental property etc etc. No one can do anything in such cases but to fight in court and present all the documents in favor. That's why I wrote earlier that keep all the dated expense proofs (which even includes payment receipts for cement, bricks, labor cost etc) to prove your side.
If possible, take the declaration on stamp paper from your sisters that they have no claim on property with sign of your parents and some of common relatives as witness and get it registered too.
There is no way to avoid stamp duty in case of registering the property in your name. In case of transfer of ownership by means of will, mutation (name change in authority records known as "dakhil-kharij" too) is done which is enough.
Again iterating the main point -- Keep your KABJA always on your property.
PS: I am not a lawyer so consult a good civil lawyer for better suggestions.