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Making gift deed property in Maharashtra Dist. How to pay stamp duty?
02-Oct-2023 (In Property Law)
Can I make a gift deed property sister to brother and how to pay stamp duty charge or without stampduty possible in maharastra plz give me suggesion?
You can transfer the property to your near and dear ones by executing gift deed and same needs to be registered on payment of stamp duty at the rate of 2% in maharashtra and get such deed registered in the office of registrar
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Adv. Radhika Pachpor
Pune | 25+ Answers
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Can my sister challenge gift deed?
A gift deed that is properly made cannot be challenged by law. Your mother was of sound mind when she made the gift of her fathers self-acquired property to you.
What is a gift deed in blood relation?
There are no legal requirements to determine if a person can receive a property as a result of a blood-related gift deed. It is important that the beneficiary is still alive when the gift deed is executed.
Can ancestral property be gifted to brother?
Can ancestral property be given away? If the property is owned by others, its not possible to gift it. The manager of a Hindu Undivided Families (HUF) can gift ancestral property if it meets the following criteria: Legal necessity. 10-Dec-2022
How do I transfer land from my sister to my brother?
The section 122 of 1882's Transfer of Property Act should be followed when a gift of movable property is made. The gift must be made by a stamped and registered instrument signed by yourself, accepted by your sibling, and attested by two witnesses. 11-Jan-2016
Yes you can gift property to your brother by executing a gift deed.
However, it is compulsory to pay stamp duty and register the gift deed. According to the latest amendment in the stamp act, in Article 34, in column 2, after the existing proviso, the following proviso shall be added, namely:-
“Provided further that, if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson, grand-daughter, wife of decesed son, the amount of duty chargeable shall be rupees two hundred.”;
Since gift from sister to brother is not covered in this amendment, the old provisions will apply. Thus, the stamp duty payable will be approx. 2% of the market value of the property.
However, it is compulsory to pay stamp duty and register the gift deed. According to the latest amendment in the stamp act, in Article 34, in column 2, after the existing proviso, the following proviso shall be added, namely:-
“Provided further that, if the residential and agricultural property is gifted to husband, wife, son, daughter, grandson, grand-daughter, wife of decesed son, the amount of duty chargeable shall be rupees two hundred.”;
Since gift from sister to brother is not covered in this amendment, the old provisions will apply. Thus, the stamp duty payable will be approx. 2% of the market value of the property.
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Adv. Ananya Gupta
Mumbai | 25+ Answers
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