REGISTRY OF PROPERTY-purchased a plot along with my friend REGISTRY OF PROPERTY-purchased a plot along with my friend

2 years ago

I purchased a plot along with my friend and got the same registered by paying fees and stamp duty. Since I wished to purchase a single floor out of the four planned to be built on the plot, the plot registry mentioned my share in plot as 25% and that of my friend as 75%. Now, we have constructed 4 floors + stilt parking on the plot and now i wish to get one of the floors registered in my/my spouse name. We have also obtained Occupation Certificate from the authority. Now, i wish to know how i should go ahead about registry in order to make the title of my floor clear with respect to other three floors. Also please tell whether i can register the floor in my name considering that i myself am an owner of the plot in 25% capacity. If not, Is it possible to transfer the floor registry in my spouse name via a gift deed ?? Does paying stamp duty during the plot registry have any consequence on floor registry if done in my/spouse name ???
My primary concern is that i should not face any difficulty in selling off my floor at a later date if need be.
Awaiting for your response at the earliest.

Abhimanyu Shandilya

Responded 2 years ago

View All Answers
A.Dear Client
Once you have constructed the flats on the land they you and your friend have become the owner of the flat in the same ratio as as your land ownership. You can have ana agreement among yourself segregating the flat and then later on get the flat registered to your names. You can also sale or transfer the flat to anyone else depending on the agreement.
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Read Related Answers

question iconWho will be legally Entitle for Redeveloped Apartment
Dear sir RIGHTS OF PAGDI HOLDER Q1. What is Pagdi system in Mumbai? Ans. The Pagdi system is a pre-independence rental law that gives the tenant certain ownership rights over the rented property, i...
question iconAFTER DEVELOPER'S DEATH HIS LEGAL HEIRS WIFE NOT DOING REGISTRY THE PROPERTY
Dear Client, Without verifying the lacunes or faults in an under-construction property you entered into an agreement to sell with the Developer/Builder and even take over the possession of the flat wi...
question iconMera ancestors ka Jamin
Dear Client, LIMITATION ACT KE TAHAT, BIS SAL BAD US ANCESTRAL PROPERTY KE UPAR APKA CLAIM JAPTA HO GAYA. KANUNAN, BARA SAL KE ANDAR APP KO US JAMIN KO PANE KE LIYE MUKADAMA/CASE KARNA CHAHIYE THA.
question iconLands sold by others
Dear Client, Your query requires more details to address suitably. In the absence of the year of selling of your grandfather's property by his brother, it is difficult to suggest tentative legal actio...
question iconLimitation period
Dear Client, The Court allows an appeal or petition filed for condonation of delay based strictly on the merit of the appeal and the reason behind it and the merit in the objection of the other party...