transfer of property
29 May 2013, 15:28
i am 76 years old. I bought the property in the name of my wife. she passed away 15 years back. and i am occupying the same property. we have no child. my question is that whether i have to transfer the property in my name or it is automatically transferred to my name? second question is that can i gift the same property to my younger brother or sister ?if yes then how?
1 Reply
transfer will not happen automatically.
You will have to get the property transferred to your name.
the property can also be transferred by way of a gift deed to your brother/ sister, but again to get the property transferred to your brothers/ sisters name you will have to visit the registry again.
Except for the travel to the registry, prima facie I Don’t think you are going to face much difficulty in either.
Under the facts that you have disclosed, it should be simple paperwork.
the entire procedure is pretty simple. I don’t think a lawyer would charge you exhorbitant fees.