Results for #option
Legal
#land#mumbai#sell#property#builder
I own a piece of land in Mumbai jointly with my three brothers. My father insists that none of us can individually sell our share of the property. Therefore, we have jointly approached a builder to build a residential property on that land. We would like 4 2BHK flats, but the builder has given us an option to take a lump sum of 3 crores. If we accept his offer, what would be the taxes due? Is there any other method we can follow to maximize our profit in this situation?
I own a piece of land in Mumbai jointly with my three brothers. My father insists that none of us can individually sell our share of the property. Therefore, we have jointly approached a builder to build a residential property on that land. We would like 4 2BHK flats, but the builder has given us an option to take a lump sum of 3 crores. If we accept his offer, what would be the taxes due? Is there any other method we can follow to maximize our profit in this situation?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Capital gains will be applicable on the transaction and the same could be Short Term Gains or Long Term Gains depending on how long you have held the property. You could utilise the sale proceeds received from the Builder to acquire another residential property within a period of 1 year from the date of the sale to minimise and/or avoid capital gains payment.
Legal
#transfer#flat#property#month#option
I wish to transfer the flat we own in my mother's name. This property was in my father's name. And he has nominated his brother in the back accounts. He passed away a month ago and I want to transfer all these things in my mother's name. I have a younger brother as well, we are not very well off so please suggest a feasible option. Thanks!
I wish to transfer the flat we own in my mother's name. This property was in my father's name. And he has nominated his brother in the back accounts. He passed away a month ago and I want to transfer all these things in my mother's name. I have a younger brother as well, we are not very well off so please suggest a feasible option. Thanks!
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Nomination does not give title to property. You can seek Letters of Adminstration from a Court of competent jurisdiction and then by consent of all heirs, transfer the proeprty to the name of your mother. However, if you father's brother is agreeable, then in some case the properties are also transferred by the Society/Authroties etc., on the basis of affidavits and Indemnities of the original ...
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Legal
#payment#options#mortgage
I want information on what are the payment options provided by lending institutions under reverse mortgage schemes?
I want information on what are the payment options provided by lending institutions under reverse mortgage schemes?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Question is vague.
Legal
#property#suit#option#agreement
I have a property that is in the name of my father and his brothers. All of them have passed away, my cousins are staying in that property and aren't willing to share it with me, I filed a partition suit against them, but they did not even turn up at court on the dates provided. Now, who would bear the chargers of the legal notice publications and is there any other option to settle this other than mutual agreement?
I have a property that is in the name of my father and his brothers. All of them have passed away, my cousins are staying in that property and aren't willing to share it with me, I filed a partition suit against them, but they did not even turn up at court on the dates provided. Now, who would bear the chargers of the legal notice publications and is there any other option to settle this other than mutual agreement?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
The Plaintiff in the Partition suit will have to bear the expenses for publication etc., however you could be considered as costs of the suit at the time of passing final decree in such suit. There is no other manner to settle this, other than by mutual agreement. The civil suit for partition is the right way forward.
Legal
#land#rent#options
We own 2 acres of land. For the past 10 years, we had given the land to some people to farm on and pay us rent. Now, we would like the land back, but these people won't return the land. We are the legal options we have to get our land back?
We own 2 acres of land. For the past 10 years, we had given the land to some people to farm on and pay us rent. Now, we would like the land back, but these people won't return the land. We are the legal options we have to get our land back?
This question has not been answered
Purchase & Sales
#options#buying#flat#owners#agreement
What are the options of buying a flat on a co-ownership basis? I wish to buy a flat in a breakdown of 70%, 20% and10% among three different owners. Is it possible to do this in the sale agreement itself? If not, then what would be an alternate option?
What are the options of buying a flat on a co-ownership basis? I wish to buy a flat in a breakdown of 70%, 20% and10% among three different owners. Is it possible to do this in the sale agreement itself? If not, then what would be an alternate option?
Answered on November 08, 2017
It is possible to define the proportion in the sale agreement
Legal
#land#mumbai#poa#valid#revoked
My family owns land in Mumbai. My father had given the POA for the land in 1983 to my brother and passed away in 1985. Is this POA still valid? If so, how can the other children get the POA revoked? Are there any other options to go about this?
My family owns land in Mumbai. My father had given the POA for the land in 1983 to my brother and passed away in 1985. Is this POA still valid? If so, how can the other children get the POA revoked? Are there any other options to go about this?
This question has not been answered
