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Procedure to transfer property to brother
26-Jun-2023 (In Property Law)
What is the most economical procedure to transfer property to brother ?? The property was purchased by one brother A only because brother B was unable to reach point of registration at the time of purchase. All the money is given by brother B on whose name property needs to be transferred now. Stamp duty and registration charges have already been paid once at time of purchase. Does one need to pay stamp duty again?? Please suggest most economical way. Will gift deed attract gift tax? If yes what % and who will pay gift tax?? Case is of Satna M.P. All land is agricultural.
There is no such economical procedure.
For transferring the property to B, due procedure will have to be followed, which will also include fresh stamp duty and registration charges.
Because, even if B had paid the money previously, a new transfer deed will have to be executed and registered.
Even in Gift Deed, tax will be applicable.
For transferring the property to B, due procedure will have to be followed, which will also include fresh stamp duty and registration charges.
Because, even if B had paid the money previously, a new transfer deed will have to be executed and registered.
Even in Gift Deed, tax will be applicable.
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Adv. Sandeep Naik
Indore | 200+ Answers
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