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Does my mother need to make gift deed to transfer property on my name
20-Feb-2023 (In Property Law)
My Mother who is 58 years of age ,in her WILL has indicated that after her death ,her share in the property should be given to me and not to my sisters {her two daughters}.. I wanted your advice ,whether my mom should make now a GIFT DEED and transfer her share to me OR it is not needed ? Will there be any GIFT TAX ?
In maharashtra state if you want to transfer the property in blood relationship then no stamp duty is applicable. Only Rs. 500/- stamp paper & 1 % LBT is applicable for it. For more information give PM.
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Adv. Bharat Pandirao Pawar
Pune | 500+ Answers
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