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Transfer of property from Father to Son (Settlement Deed)
11-Feb-2023 (In Property Law)
I had purchased a flat in Chennai and it is registered in my Fathers Name.
We want to transfer this Flat to my brothers name.
Can we transfer of property through settlement deed?
In case we do settlement deed what is the registration/stamp duty in Chennai.
Kindly advise the procedure how my brother can do the name change with settlement deed
Yes, it's doable. It can be by way of settlement deed or gift deed and both are good for the purpose. There is a flat rate payable. Your father can settle the property to your brother with your consent, mentioning the same in the deed to avoid confusion in the future.
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Dr. S. Diraviam Dinesh
Chennai | 1000+ Answers
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A settlement deed under Indian law is governed the 1882 Transfer of Property Act. A settlement deed is a legally-binding agreement that ensures fair distribution of assets and property among all parties. Recent data shows that around 10% of all property disputes are settled through settlement deeds in India.
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Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
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