Transfer of ownership
Your property-related legal queries answered by S.C. RAGHURAM, Partner, RANK Associates, a Chennai-based law firm
My widowed sister inherited one-third of her father-in-law’s property by a clear title. She and her other in-laws had to redevelop it with the help of a builder. They have built three floors with a CMDA approval and my sister has got the second floor as her share. The builder charged around Rs. 70 lakh per floor as construction cost and built two flats (900sq.ft.) each on the second floor. As my sister was not in a position to pay up, I did so on her behalf, and was to be given one of the two flats on the said floor.
How can she transfer the ownership to me? Can she gift it to me as a sibling or should it be done as a sale deed? I have all the records of payment made to the builder.
It is assumed that the construction is completed and necessary documents confirming the ownership of your sister have been duly executed and registered, wherever necessary. Your sister can execute a Deed of Settlement in your favour transferring the apartment and the proportionate undivided share of land.
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