Transfer of Ownership/Name Change
If a person is dead, then his/her property can be transferred on the basis of natural succession or will. In case there is no will, the immovable property gets devolved upon all the legal heirs in class 1.
As per the Hindu Succession Act, Class 1 heirs are:
- Son/Daughter
- Widow/Mother
- Son/daughter of pre-deceased son/daughter
- Widow of pre-deceased son
- Son/daughter of pre-deceased son/daughter of a pre-deceased son/daughter
- Widow of a pre-deceased son of a pre-deceased son
If the owner of a property is alive and wishes to transfer the ownership to someone else, he/she can do so through several instruments of transfer such as:
- Transfer Deed
- Sale Deed
- Relinquishment Deed
- Gift Deed and others
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Whatever instrument of transfer you prefer to use you must register it with the concerned government authority so that it becomes enforceable. Only then does the instrument of transfer become valid legally. The registration process includes paying a stamp duty and other costs. Once this registration is successful, you can go ahead with the transfer of ownership. It is important that you have an expert lawyer by your side in the whole process to make things easier, smoother, and error-free.
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Frequently Asked Questions (FAQs)
The legal heir(s) must submit an application to the concerned authority for transfer of ownership. The application must be accompanied with a copy of the death certificate of the previous owner and their title deed. A property lawyer can help you fill the application in the requisite format and submit it correctly.
In this case, the legal heir who is ready to surrender must sign a no objection or relinquishment deed. This may also require an indemnity bond. It is always good to have a lawyer by your side in property matters so that all your legal documents are in place and you have no problem in the future.
Yes. In case the deceased left a will in the name of a sole legal heir, other legal heirs can challenge the will. Then, the property will devolve according to the decision of the court. However, it is not possible to challenge a probated will.
A Gift Deed is a formal legal document that provides legal ownership of property from the previous owner to the new owner. In this case, ownership is gift based, so no money or consideration is exchanged here.
No. Transfer of ownership is a must. For this, you must perform a legal procedure and fulfill certain legal requirements. Also, you must be wary of issues like Gift Deeds Tax and others. That’s why it is good to consult a qualified and experienced lawyer, who can help you in “gifting” the property and also analyse your property to ensure you are using the right instrument of transfer.
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