Query regarding the selling of a property
3 months ago
Hello all,
I have a query regarding the selling of a property self acquired by my father.
Our parents passed away, we are three siblings. Me,my sister and an unmarried brother. Recently our brother also passed away. Our house in kerala (approx 1.5cr) is in father's name. As per his will it is equal division into three.My brother has no will written.
My sister is willing to give her share to me and I am planning to sell that house and buy a flat in Bangalore in my name. I am a housewife paying no IT.
What is the best way to do ?
1.After getting legal heir certificate, is my sister's NOC is enough to get sole ownership of the property?
2.she is staying in a different country, is it possible to do without physical presence by giving POA or she has to come to sign release deed or so ?
3.should I sell the property later for a better value but book an underconstruction flat now in Bangalore by taking a loan?
Thanks in advance
A.Dear client,
As all of you were legal heirs of the said property, thus if your elder brother has legal heirs then they have rights over his portion of share of the property.
1. After you get your legal heir certificate, NOC does not hold much value in transfer of property so to get the sole ownership of the property as legal heir you must make a relinquishment deed where it will be written regarding your sister’s dis interest in the said fixed asset.
2. in case of transfer of property your sister needs to sign the deed thus her present is must. Sometimes people send the POA copy to the person who is staying out of country for signing. This way also it can be done. 3. It would be suggested not to book an under construction flat as most of the time developers delay to give the possession and even sometimes they don’t even complete. In such scenario your money will be stuck. Try to buy a new constructed flat. Also before booking do a searching and take an Advocates help to check authenticity.
You can always take loan to book a flat but choose the property wisely.
Thanks & Regards
As all of you were legal heirs of the said property, thus if your elder brother has legal heirs then they have rights over his portion of share of the property.
1. After you get your legal heir certificate, NOC does not hold much value in transfer of property so to get the sole ownership of the property as legal heir you must make a relinquishment deed where it will be written regarding your sister’s dis interest in the said fixed asset.
2. in case of transfer of property your sister needs to sign the deed thus her present is must. Sometimes people send the POA copy to the person who is staying out of country for signing. This way also it can be done. 3. It would be suggested not to book an under construction flat as most of the time developers delay to give the possession and even sometimes they don’t even complete. In such scenario your money will be stuck. Try to buy a new constructed flat. Also before booking do a searching and take an Advocates help to check authenticity.
You can always take loan to book a flat but choose the property wisely.
Thanks & Regards
Helpful
Helpful
Share
A.Dear Client,
In the given situation, if your brother passes away intestate leaving no family, then the share of the brother in the property shall be devolved upon the surviving legal heirs, i.e, you and your sister. In this situation, your sister needs to execute a deed of relinquishment bequeathing her own share and the share she is entitled from her deceased brother who left it intestate. Based on the execution and registration of said Deed of Relinquishment by your sister, a deed of settlement is to be made out conferring the title/ownership of the entire property in favour of you that also be registered under the Registration Act to make it legally valid and enforceable. Your sister being settled abroad can execute a GPA in favor of of your relatives/friends explicitly empowering him/her to execute both the deed of relinquishment and the deed of family settlement on her behalf before the Registrar or Sub-Registrar for registration of the documents. An NRI can execute Power of Attorney from abroad. The GPA from abroad has to be attested in the Indian Consulate in a foreign country. The procedure is, to draft a special power of attorney on Indian stamp paper of 100 rupees which is available in all countries or even on white paper giving SPA to any of your relatives/friends specifically empowering the person to execute both the deed of relinquishment and the deed of family settlement on behalf of executor. Section 14 of the Notaries Act, 1952 empowers the central government to declare that the notarial act done by notaries in other countries shall be recognized for specified purposes. Once the title of the property is transferred in your favour following the statutory procedures. you may sell it or avail bank loan against it for any purpose.
In the given situation, if your brother passes away intestate leaving no family, then the share of the brother in the property shall be devolved upon the surviving legal heirs, i.e, you and your sister. In this situation, your sister needs to execute a deed of relinquishment bequeathing her own share and the share she is entitled from her deceased brother who left it intestate. Based on the execution and registration of said Deed of Relinquishment by your sister, a deed of settlement is to be made out conferring the title/ownership of the entire property in favour of you that also be registered under the Registration Act to make it legally valid and enforceable. Your sister being settled abroad can execute a GPA in favor of of your relatives/friends explicitly empowering him/her to execute both the deed of relinquishment and the deed of family settlement on her behalf before the Registrar or Sub-Registrar for registration of the documents. An NRI can execute Power of Attorney from abroad. The GPA from abroad has to be attested in the Indian Consulate in a foreign country. The procedure is, to draft a special power of attorney on Indian stamp paper of 100 rupees which is available in all countries or even on white paper giving SPA to any of your relatives/friends specifically empowering the person to execute both the deed of relinquishment and the deed of family settlement on behalf of executor. Section 14 of the Notaries Act, 1952 empowers the central government to declare that the notarial act done by notaries in other countries shall be recognized for specified purposes. Once the title of the property is transferred in your favour following the statutory procedures. you may sell it or avail bank loan against it for any purpose.
Helpful
Helpful
Share
A.Dear client,
In a self acquired property, the property will be divided amongst the heirs as per the will. In the instances where there is no will, the rules of succession will apply. That is, in the current matter, your brother's children will have equal share in his portion of the property acquired by your father. Along with the NOC of your sister, as per the Indian Succession Act, it is necessary to get NOC from the legal heir and the spouse of your brother, or incase the children are minors, you would need a guardian consent with court interference.
The Supreme Court recently held that a POA cannot transfer property unless it is explicitly mentioned in the sale deed. Please ensure that in the sale deed, the POA would be stated as a clause for the reason your sister resides in a foreign country.
Thank you
In a self acquired property, the property will be divided amongst the heirs as per the will. In the instances where there is no will, the rules of succession will apply. That is, in the current matter, your brother's children will have equal share in his portion of the property acquired by your father. Along with the NOC of your sister, as per the Indian Succession Act, it is necessary to get NOC from the legal heir and the spouse of your brother, or incase the children are minors, you would need a guardian consent with court interference.
The Supreme Court recently held that a POA cannot transfer property unless it is explicitly mentioned in the sale deed. Please ensure that in the sale deed, the POA would be stated as a clause for the reason your sister resides in a foreign country.
Thank you
Helpful
Helpful
Share
Read Related Answers
Covered garage
Dear Client,
The owner of a property is liable to pay the property tax levied by the local civic body i.e, the Municipal Authority. This tax may vary from one location to another and various other fac...
Government Land Occupying
Dear Client,
The Government land cannot be a subject matter of a transaction between the private parties. Instead, the Government acquires private land whenever required for public purposes under the...
Balcony extension
Dear Sir,
Yes, you can do so with the formal permission of either association people or builder. You may file representation before them and get consent.
Digging borwell infront of my house without permission
Dear Client,
If the land/place belongs to the Government, then your permission is not required. You cannot raise your voice against the installation of a borewell near/in front of your house. Your obj...
Property documents
Dear Sir,
It is not safe to give your originals to any broker. Thereafter, they may blackmail you.
Read Blogs on Property
Property Lawyers
Find Lawyers by Location
