Results for #avoid
Legal
#documents#transfer#avoid
We bought a plot only to realise later that one of the documents are missing from papers required for the transfer. What do we do to avoid such situations in the future?
We bought a plot only to realise later that one of the documents are missing from papers required for the transfer. What do we do to avoid such situations in the future?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Proper due diligence through an Advocate and further assistance of an Advocate should be sought in connection with any transaction for sale of any immoveable property.
Taxes & Duties
#flat#mumbai#selling#pune#avoid
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
We wish to buy a flat in Mumbai after selling our flat in Pune. The flat in Pune is in my mother's name, we want to avoid capital gains, so is it advisable for my mother and father to have a joint ownership? Also, if this happens will it impact the exmeption claimed by my mother on the property?
Answered on November 08, 2017
Since the Pune Flat is owned by your mother, capital gains will arise to your mother. By investing in another residential flat exemption u/s. 54 of the Income Tax Act can be claimed upto a value of subsequent purchase.
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
Further the Mumbai flat can be purchased in joint ownership of your mother and father. Joint ownership will not have any impact on exemption that will be available to your mothe... (View more)
Legal
#flat#payment#agreement#avoid#selling
I jointly own a flat along with my brothers. I have done the complete payment for this flat and now I wish to take their name off the agreement to avoid the requirement of their signature when selling the flat. Please suggest a feasible process for the same.
I jointly own a flat along with my brothers. I have done the complete payment for this flat and now I wish to take their name off the agreement to avoid the requirement of their signature when selling the flat. Please suggest a feasible process for the same.
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
You can get the flat transferred to your name by asking your brother to sign a release deed in your favour. In Maharashtra, a Release Deed executed without consideration, is required to be stamped for Rs.200/- only. The Release Deed will however have to be registered.
