Lahore Real Estate Forum

Start NEW Topic Or Post Advertisment

                                                          
 
Back to Forum |

please help.,

(72554)
   mukhtar
Sunday, June 3, 2012 12:01 PM 
Reply: >
Aslam o Alekom

Brothers I have a technical question if someone can help I will be grateful.
10 years back I bought a 10 marla house in Lahore cantonment area with house building finance corporation. I paid all dues and installments and now I have the registry with me.
During the process HDFC guys told me that it should be co-ownership with someone who is in Pakistan as I was in Saudia at that time. So the ownership of the house was put on my brother and my name.

Now I need to transfer other half also to my name. what is the process for that ? what type of fees are there to be paid? Should I peruse it myself or some lawyers help will be required.
I will be really thankful if brothers can give some information regarding this issue.
Habib replied on Monday, June 4, 2012 05:50 AM 

Your Brother is owner of 1/2 House You will have to get registered to Your name it will cost you a lot but better fix is today than Later, Discuss with some lawyer there is some way to tarnsfer land to Family members at lesser Cost, Father can do that to sons and daughters but I am not sure about brother, Plain stamp paper with affidavit also called Memorundom of understanding also called Biana Paper will cost you only 200 Rs but have no legal value..
A wellwisher replied on Monday, June 4, 2012 10:10 AM 

one way is to take a power of attorney from your brother, however, if God forbid something happens to you, that POA will be nullified, and your brother will be able to claim his share from your family. Therefore, if you want to sell the house, take POA. If you want to keep the house, your brother has to sell his share to you with new registration and you have to pay the registry charges plus VAT and so on. As Mr. Habib suggested, you better do it now than later.
>