1. Brother can gift to wife

2. A minor of 12 years is not capable under law to hold any property

3. So if brother gifts the property to minor then it will be through the guardian of minor

4. If the property is required to be sold during the minority of the child owner then the guardian will have to file a guardianship petition in court and obtain permission of court to sell the minor's property

5. Also the money received on sale will have to be applied as would be directed by the court

6. So its better that property is gifted to wife to avoid above hassles

7. Usually stamp duty on gift deed in favour of near relatives is at a concessional rate as opposed to normal sale transfer.

Your brother and you both had bought a plot. Now he wishes to gift it to you his portion. He can gift it to you . The gift should be unconditional and the possession must be taken over by the donee in the lifetime of the donor.

There are certain persons to whom if you gift a property you are exempt from income tax.your bro falls in that category. In case you sell the plot.the income tax rules specify relatives from whom tax free gifts can be received. These are:

Parents

Spouse

Your and your spouse’s brothers and sisters

Brothers and sisters of your parents

Your lineal descendants (including spouses)

Lineal descendants (including spouses) of your spouse

1. Your brother and you both of whom are being half share holder in the property can transfer your respective half share in the property in the name of anyone you choose including your wife or your son.

2.For stamp duty talk to the registration office staff as the same is different in every state.

Firslty, Sir, if the property is in the name of the both then you may need to give the NOC to your brother to gift it to anyone, either to you or to your wife or to your son.

Secondly, actually the person to whom it has beeen gifted only would have right to sell it in future.

Thirdly, no stamp duty if it’s been gifted for no consideration meaning that no money was given to the owner.

1. Yes he can gift it to your wife. In case it is gifted to you son who is minor the permission from court is required to sale in future.

2. The stamp duty rate is 2 percent of value of property transferred.

1. Your brother can gift the property to you or your wife by way of a registered relinquishment or gift deed. The property can be gifted to your 12 year son as well but if you want to sell the property in future then prior consent of the court would be required to be taken.

2. The stamp duty for registration of gift or relinquishment can be determined fromthe registrar office in your area. Generally some concessions are for registration of gift deed between relatives, so it's better to enquire the same, as that can save you a lot of stamp duty and your work would be done too.

Your brother can gift plot to your wife or to your son

2) stamp duty is state subject and varies from state to state

3) local Lawyer can guide you as to exact stamp duty payable

1. Your brother can gift it to either you or your wife, it will be exempt from payment of gift tax.

2. Gift can also be made by him to your son.

3. The stamp duty part can be answered by only a local lawyer as it is different in every state.

Dear Client,

Any one can gift a property. The stamp duty will be as per present rate in U.P. You have to confirm it from Tehshil itself.

He can Gift his share in the property to any of his choice and release deed/ Gift deed in your favor.

Stamp duty and transfer duty shall be 6% of the value of the property if the donee is a woman and 7% if the donee is a man.

Yes he can gift it to anyone of you. The gift deed has less stamp duty for blood relations.

1. Can he gift it to my wife? If not, can it be gifted to my son who is 12 years old? What will be the implications when I wish to sell it in future?

Answer: He can gift it you and you can later gift it to your wife. No he cannot gift it to your son since he is a minor;

2. What will be the stamp duty to register the gift at registrar office?

Answer: The stamp duty will be less than Rs.1000/- if he gifts it you. If there is joint name then your brother can relinquish his rights by executing a Deed of Relinquishment.

If she owns the property and has clear and marketable title to the property she can very well transfer the same to your name or your wife's name or to your son by executing a registered gift deed, there's no legal impediment in it.

Regarding stamp duty you may enquire the same from local registrar office.