I live in Mumbai in a flat which is owned by my mother, who lives in Assam. How do I go about buying this property from her and transferring it in my name?
Answered on November 08, 2017
An agreement for sale can be prepared between you and your mother. However, for this your mother shall need to come to Mumbai for the registration process. In case, someone holds a registered power of attorney for your mother, he/ she can sign on your mothers behalf. In case no monetary transaction needs to be performed, a gift deed can simply be executed between the two of you by paying the applicable stamp duty on the gift deed. As on today, Rs 200 stamp duty is payable if mother gifts to her children
