Q:Hello,
My mother-in-law has a property in Bangalore co-owned by her sister. It is written as a gift deed.
Plan- redevelop property into a 3 storey Flat. Fund mother-in-laws part of house.
Verbal arrangement- Her portion will be written in her and my husbands name.
Lawyer says - we cannot add my husbands name in the deed now.
His suggestion is - prepare an amalgamation deed in the name of my mother-in-law and her sister as the first step in the construction process for approval of plan.
Later- Prepare a sale deed which will then include my husbands name.
My mother-in-law has said that she will write a memorandum of understanding that the property will be 50-50 upon the completion of construction.
What I would like to know is
1.What is the simplest way to include my husbands name in the property?
2.What do we need to do so that everyone's position is safe?
3.Will we incur double the cost if we follow the lawyer's suggestion? In stamp duty or registration costs etc?
