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I have a house in my name in Chandigarh and am a joint inherited owner,with my brother,of another house in New Delhi.

I have a house in my name in Chandigarh and am a joint inherited owner,with my brother,of another house in New Delhi. To avoid any recriminations in the future amongst our children,my brother and I,both in our 70s,would like to mutually exchange our interests in the two properties without any financial liabilities as the value of half of his share in the New Delhi house is about the same as the value of mine in Chandigarh. Please advise: a Can we mutually transfer our interests in the two properties? and b Since the two properties are in two different jurisdictions,what legal/other steps are required to be taken?

Major Jasbir Singh,Chandigarh

In most states,including Chandigarh,whenever you exchange property,stamp duty needs to be paid only once,on the property of the higher value. Since the properties are in different states,in my opinion,you will not be able to take the benefit of this clause and hence reciprocal gift deeds would be the best option.

I have a condominium in Pune. The builder arranged the Deed of Apartment and Deed of Declaration for submitting the property under the provisions of The Maharashtra Apartment Ownership Act,1970. How should we go about getting the Property Card?

Gopal Paranjpe,Pune

Once the condominium is constituted by virtue of the declaration and execution of the Deed of Apartment,the flat of each member together with the undivided share in the common area and

facilities constitutes a heritable and transferable immoveable property.

This means you can transfer or

bequeath the same to anyone you

desire. Confirm that the condominium is the owner of the land and not a lessee. In this case,it is highly advisable to have the property card in the name of the condominium. For this,you will have to approach the local Collectors office with proof of your original Deed of Declaration and Deed of Apartment. These documents pertain to the land and not individual flats.

Can I buy agricultural land?

Venkat,New Delhi

This is a very complex area with different rights attached to the land and it is highly advisable to seek the help of an expert lawyer to guide you. You will have to ensure that the seller does have a proper title,has a right to transfer the land to you and that there are no claims or encumbrances upon the land.

Vinay Singh is a Mumbai based Chartered Accountant,Please email your queries at estatesexpressindia.com