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Give up the land received by gift deed
31-Aug-2023 (In Property Law)
My grandfather has 2 sons.
My grandfather gave a gift deed to part of land to my uncles sons(Grand father passed away). But the other parts of land are neither gifted/settled/sold.
Now my uncle's sons would like to give back the land to me as they are settled in other part of land.
I think my my uncle's sons cannot gift deed the property to me.
In case of sale deed, we have a situation that the gift deed was executed with evil idea by neighbour using the conflict we had with our uncle. The market value of the land in gift deed is 10 times higher than the actual market value.
If we try to execute the sales deed with the market value in gift deed. The stamp duty itself would exceed the actual market value.
Can we execute a sales deed with actual market value eventhough gift deed executed with higher value.
Is there any other solutions?
this you can only for the guideline value then the sale amount consideration may be paid in the stamp duty showing 10 value then we should pay stamp duty for the guideline for the market value if it is below the guideline value then we should make a stamp duty for the guideline value in case of the gift deed that is no consideration so that guideline value is accepted and stamp duty is collected for the guideline value
Helpful?
Adv. Satish Kumar
Chennai | 500+ Answers
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