Sale deed should be registered with sub-registrar of assurances1 min read . Updated: 29 Jun 2015, 08:25 PM IST
Stamp duty will be payable on the sale deed in accordance with the provisions of the stamp laws
My wife was the owner of one-fourth of an undivided residential flat. She recently died leaving a Will in which she bequeathed the share to me. In a scenario wherein all owners were to sell the property, what would be the procedure to convey my share to the prospective buyer?
Before you can sell your one-fourth undivided share in the residential flat in question (property), it is important that you take all steps to have the property transferred to your name.
For example, if a probate of your wife’s Will was required to be obtained, it should be obtained.
A probate is a copy of a Will certified under the seal of a court of competent jurisdiction with a grant of administration to the estate of the testator.
The legal effect of the grant of a probate is that it will conclusively establish the legal character of the person to whom it has been granted.
If the flat is in a co-operative housing society, the shares corresponding to the property should be transferred to your name by the society.
Also, appropriate mutations should be made in the records of the sub-registrar of assurances within whose sub-district the property is situated.
Your wife’s name would be deleted in such records and your name would be added in place thereof.
Once the property has been transferred to your name, you and the other holders of the property could jointly execute a conveyance deed or a sale deed in favour of the prospective purchaser.
The purchase consideration will be payable to you, as well as the other holders of the property in the manner set out in the sale deed.
Stamp duty will be payable on the sale deed in accordance with the provisions of the stamp laws applicable to the state in which the property is situated.
Note that it is mandatory to register a sale deed with the sub-registrar of assurances as per section 17 of the Registration Act, 1908, otherwise the transfer will be held invalid.
So, on execution of the sale deed, it will be required to be registered with the office of the sub-registrar of assurances within whose sub-district the property is situated, within a period of four months from the date of execution of the sale deed.
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