I want to transfer my house to my wife's name
01-Mar-2023 (In Documentation Law)
I want to transfer my house to my wife's name. what are the ways of transferring it cheap ways
If you want to transfer the house in your wife's name, it will involve the stamp duty on the entire value of the property. There are two other methods by which the property can be transferred to your wife name.
(1) By giving a gift of the property to your wife through Registered Gift Deed. In this case, the stamp duty payable would be very very less compared to the stamp duty payable in the normal transfer of property.
(2) By making a WILL in favour of your wife. Here there is no requirement for payment of any stamp duty at all. In this case the WILL will become effective only upon your demise and not before that.
(1) By giving a gift of the property to your wife through Registered Gift Deed. In this case, the stamp duty payable would be very very less compared to the stamp duty payable in the normal transfer of property.
(2) By making a WILL in favour of your wife. Here there is no requirement for payment of any stamp duty at all. In this case the WILL will become effective only upon your demise and not before that.
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Hi,
Transfer of property may be through sale or gift. Transfer through sale will be based on Sale Deed/Agreement and Gift is possible through Gift Deed. You may execute a Gift Deed for this purpose as Gift Deed attract lesser amount of stamp duty. Thanks.
Transfer of property may be through sale or gift. Transfer through sale will be based on Sale Deed/Agreement and Gift is possible through Gift Deed. You may execute a Gift Deed for this purpose as Gift Deed attract lesser amount of stamp duty. Thanks.
You first need to explain what you mean by "cheap" here. Do you mean the taxes payable on the transfer. If you wish to save on taxes, then you can transfer the property by way of a gift deed. There are however certain conditions to be met for that. We can discuss this in detail.
The cheapest way is transferring the house in the name of your wife is General Power of Attorney.
GPA between blood relations can be registered with stamp duty of Rs.100/- and registration fee of Rs.4/-.
Two witnesses alongwith identification documents need to be present during presentation of documents.
GPA between blood relations can be registered with stamp duty of Rs.100/- and registration fee of Rs.4/-.
Two witnesses alongwith identification documents need to be present during presentation of documents.
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