Father purchased a property but unable to pay registration fee
12-Oct-2023 (In Property Law)
Respected sir recently ( last year 2017 dec) my father (62 years old) purchased new flat on his name now it is in under construction, my father took 10 lakhs loan from bank, now dad want to transfer his property to his son, for that registration again they are asking 2.80 lakhs, now my father and his son don't have the capacity to pay that registration amount. both are govt employee's only... please suggest me
In the event of not capable the registration charges your father can execute a gift settlement deed and registered it before the concerned authorities for which the registration charges are lesser. Consult with the bank and after gift deed registered request bank to transfer the loan on his son's name
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