427+ Lawyers are online 
Transfer of property in blood relation
15-Mar-2023 (In Property Law)
We are two brothers , my mother owns a house now she want to transfer same to me what are the best legal way to transfer same so that in future my brother cannot claim stake in house, I want to know rules of property transfer in blood relation?
Dear client, I have seen your query carefully and found that you want to get the property from mother legally. In this regard it is to inform you that according to the provisions of transfer of property act your mother can transfer her property in favour of you by way of registered sale deed or registered gift deed. But you have to pay the requisite stamp duty on these documents. The only difference between the sale deed and gift deed is that in gift deed you have not to disclose the details of the payment. you can contact me for further assistance and advice on my contact number through the administrator of this website
Helpful?
43+
43+
Adv. Rajeev Srivastava
Ghaziabad | 400+ Answers
Chat
Is gift deed possible without blood relation?
A gift deed is an agreement that allows a person to transfer their property (movable or fixed) without compensation. This could be a transfer of property to a blood relative or anyone else.
What is the stamp duty on a gift deed to blood relations?
Stamp duty: Rs 200 per residential property and Rs 3% for blood relatives. Registration with local authorities is mandatory, along with the submission of valuation certificates and encumbrance certificate. Stamp duty: 5% for family members and non-family.
Who are relatives in gift deed?
If the gift is made to someone who is not a relative, as per the Income Tax Act (which includes spouses, siblings, children and linear descendants), then the gift is exempt from tax if it is made in accordance with the Income Tax Act.
What are the rules for property transfer in blood relation in Punjab?
If the property is being transferred to a blood relation, no stamp duty will be charged. If property is exchanged between family members, Rs. 900 in stamp duty is collected, which includes Rs. 300 as mutation fees, Rs. 500 as facilitation charges, and Rs. 100 as pasting fee. 06-Oct-2023
the best possible and cheapest way to get it transfers is to ask your mother to gift it to your wife in the form of gift deed, this will save you some stamp duty and moreover this may end your brother's claim to the property
Helpful?
37+
37+
Adv. Pawan Bisht
Lucknow | 100+ Answers
CONTACT NOW
A legal document called a gift deed for blood relations is used to transfer property ownership from one family to another, without monetary exchange. This is a common way for parents to pass their assets on to their children, without having to worry about tax or legal implications.
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."
