Should you execute PoA to relinquish property rights?
My father had booked a flat in Mumbai a few years in the past however died earlier than he might get possession. A yr later, the builder handed over the flat to my mom, who at the moment lives there. The flat remains to be registered in my father’s identify. What are the legalities concerned in transferring the flat to her identify. Also, ought to I’ve to offer a NOC or energy of lawyer (POA) to my mom?
— Name withheld on request
We have assumed that you’re a Hindu by religion, and that your father died intestate, i.e., with out executing a sound Will. Accordingly, the foundations of intestate succession enshrined within the Hindu Succession Act, 1956, would apply.
Broadly, you’ll require (i) PAN and Aadhar card of your mother and father; (ii) title documentation of the property in query; (iii) electrical energy payments and water payments; (iv) authorized inheritor certificates / succession certificates, as could also be relevant in your case. The extra formal requirement might embrace a grant of letters of administration, certifying that the property has devolved in your father’s class 1 heirs (i.e. his widow + youngsters (and his mom, if alive)
It is advisable that you just execute a relinquishment deed (often known as a launch deed) or present deed in favour of the specified authorized inheritor(s) who will take over the property. This relinquishment deed/present deed, because the case could also be, ought to be stamped and registered with the involved sub-registrar of assurances. It is advisable to talk to your lawyer and draft an appropriate deed and calculate the stamp responsibility and registration prices accordingly. In the current case, you might not be required to execute a PoA.
Your mom wouldn’t be required to pay any registration charges for her share inherited out of your father. In case, you want to execute a relinquishment deed to switch your share in favour of your mom, related stamp responsibility and registration costs can be required to be paid on such switch. You can be required to pay stamp responsibility solely upon execution of the relinquishment deed.
Apart from the statutory prices as above, different prices might embrace authorized charges + charges for another consultants used.
Rishabh Shroff is companion, Cyril Amarchand Mangaldas.
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