659+ Lawyers are online 
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.
Helpful?
41+
41+
Dr. S. Diraviam Dinesh
Chennai | 500+ Answers
CONTACT NOW
What are the conditions for a settlement deed?
The terms of the settlement must be agreed upon by all parties. Free consent should not be influenced by external elements like deception, coercion or deception. Both oral and written agreements can be accepted. All parties must sign the written agreement if it is written.
What are the 2 methods of transfer of property?
There are several ways to transfer ownership: 1) by relinquishment, 2) by sale, 3) by gift; and 4) by mortgage, 5) by lease or 6) by leave and license agreements.
Which is better settlement deed or gift deed?
The best option is the Gift Deed as the property transfer from the Donor directly to the Donee occurs during the life of the Donor. Gift Deeds are ideal for avoiding stamp duty. A settlement deed, however, would require that all three children obtain their share of the property.
What is the difference between a settlement deed and a sale deed?
When a property has been sold, a sale deed will be used. Settlement deeds are used to divide property among family members. 11 Sept 2023
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.
Helpful?
Adv. Chikirsha Mohanty
Delhi | 200+ AnswersCONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Property lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
