Transfer of property from father to mother. What is the fees needed?

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In India, the choice between a gift deed and a release deed for transferring property ownership can have different cost implications, particularly in terms of stamp duty and registration fees. A gift deed is commonly used to transfer property between close family members, such as from a spouse to another spouse, and it involves stamp duty and registration charges. In Maharashtra, for instance, the stamp duty on a gift deed between close family members (like spouses) is generally around 3% of the property’s market value, though this rate may vary depending on local state laws. Registration fees may also apply, typically a nominal percentage of the property value or a flat fee. A release deed (or relinquishment deed) is often used when co-owners of a property wish to transfer their share to another co-owner. It is most commonly seen in cases of inheritance, where one legal heir releases their rights to another heir. In this case, since your parents are co-owners and your father would be transferring his share to your mother, a release deed could be an economical option. In many states, including Maharashtra, the stamp duty for a release deed between close family members is nominal, sometimes as low as 1% or a fixed amount, depending on the state regulations. Given that your parents are co-owners of the property, using a release deed could be less costly than a gift deed. It would be advisable to verify the current rates with the local sub-registrar office or consult a property lawyer to ensure compliance with the specific regulations in your state, as rates may vary and local rules can impact the choice of deed.

Advocate Rohan Venkatesh Yemul LawRato