Sale of share
i live in murshidabad(west bengal),my aunty , who lives in kolkata , is a share holder of our house , she wants to sale her share to me , but due to her age she is unable to come in murshidabad , can she give power ? what is the process? or any another way to sale the property , pl send me the answer.
Your aunt can execute a special power of attorney in favour of a third party (assuming that you also have a share in the house) where the third party will be granted a specific right to sell the property on her behalf and also do related work such as signing of sale agreement and registration. Please note that this special power of attorney will be registered.
You can get a GPA in your name, for which you will have to travel to Kollkata. It will be advisable to take the assistance of a local lawyer there.
Power of Attorney of aunt be taken in the name of you or any person of the family of aunty then after you can make sale deed in the name of as you wish
As per prevailing law to sell property special power of attorney is required to be executed in favor of blood relatives and than execute release deed in your favour.
If you are wants to take shre on your self name then your aunty has make will deed on your name any where in india there is no need to travel and stamp duty
Upon will deed you have save money and time
Section 44 of the Transfer of Property Act, 1882, deals with transfers by one co-owner. It also deals with the rights of a transferee in this type of a transaction.
This section of Transfer of Property Act deals with rights and liabilities of a transferee from a co-owner, as to the enjoyment of the property transferred ( should be immovable for this section). The first part of the section merely incorporates the principle that a person who takes transfer from another, steps into the shoes of his transferor, and is clothed with all the rights and becomes subject to all the liabilities of his transferor. In short, we can say that he becomes as much a co-owner as his transferor was before the transfer. The second part of the provision provides an exception to the general rule stated in the first part and is based on convenience. It is designed to prevent an outsider from forcing his way into a dwelling house in which other members of the transferors family have a right to live.
Section 7 of the Transfer of Property Act, 1882 provides that every person competent to contract i.e. a major and of sound mind or is not disqualified by law for contracting. Therefore even the interest of a co-owner or co-sharer can be sold, mortgaged, leased to another co-sharer or to a stranger.
She could transfer the share in the following ways-
Since the property is registered in Kolkata, I believe you have to call her in Kolkata for completion of procedures. However, if land department in your state follows online means for such procedures, as is done in Maharashtra, this may be allowed. You have to confirm this by visiting their office.
Book a phone consultation with a top-rated lawyer on Lawfarm.