Can joint property be gifted?
myself and two of my sister is the joint owner of a property which we all want to gift to my son , my question --Is it possible to gift by co owners to my son .?If yes -- can we gift by single gift deed or three separate gift deed required?
Asked 2 years ago in Property Law from Kolkata, West Bengal
Hi, joint owner can execute gift deed to your son by executing single gift deed.
1) joint owners can execute gift deed in favour of son by a single gift deed
2) gift deed has to be duly stamped and registered
Yes, owner or joint owners can always gift their self acquired property to any one she/he chooses.
1. If you all are holding the property jointly without being divided or partioned then you can jointly sign a single gift deed in favour of the donee,
2. The Gift Deed is required to be witnessed by two witnesses and registered.
1. If all the co-owners are into a positive agreement to gift their property to your son then a single gift deed will suffice.
2. All co-owners must sign the gift deed before presenting it for registration.
1. All you three can jointly make a gift deed and get it registered after paying stamp duty .
2. No need of separate gift deed if all of you are willing to gift your each respective shares.
3. once all three joint owners gift the property by a regidtered gift deed the property will be absolutely his
1) All you need I'd a joint gift deed signed by all co owners .
2) It needs to be duly stamped and registered.