• Transfer of Flat from Joint Name to single Name

Currently the flat is in Mother and Daughters joint name. Wanted to check the cost and procedure of transferring a flat in Mumbai under the Daughters name only. Mother is alive and is gifting the flat to her daughter.
Asked 6 years ago in Property Law
Religion: Christian

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22 Answers

Don't go for gift deed instead you can go for relinquish or release deed. It can save your cost of stamp duty and registration. Only nominal charges you have to pay.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

mother can execute gift deed in favour of daughter 

 

2) gift deed should be duly stamped and registered

 

 

3) legal fees depend upon lawyer engaged by you 

 

 

4) stamp duty would be 3 per cent of market value of mother share in property as per ready reckoner rates 

 

5) registration charges are maximum Rs 30000

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Dear Client,

Mother have to execute release deed or gift deed in her favor to make her absolute owner. Less stamp duty payable on release deed. In both case max 2% of market value of transferred holding. 

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

1. The share in a property can be transferred by another by way of deed of gift or deed of sale.

2. Since deed of gift between a family members attracts nominal stamp duty and registration deed, in this case it is advisable to execute gift deed only.

3. To draft such a deed of gift you require assistance of an advocate .

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

Both are same - Relinquish or release deed- deed will execute and register at sub registrar office.

Yogendra Singh Rajawat
Advocate, Jaipur
23079 Answers
31 Consultations

relinquishment deed has to be executed duly stamped and registered 

 

you can cross check with sub registrar office as to stamp duty on relinquishment deed 

Ajay Sethi
Advocate, Mumbai
99775 Answers
8145 Consultations

Dear Sir,

The property can be transferred in the name of daughter by Gift deed. This need be compulsorily registered and attracts same stamp duty as in the case of sale deed. Another way is that you may execute a will in favor of daughter, but will takes effect only after the death of testator and during his lifetime he can change it too. Will should also be registered for safety.

Netravathi Kalaskar
Advocate, Bengaluru
4951 Answers
27 Consultations

1. Mother can make a gift deed in favour of daughter

2. professional fee for drafting gift deed - 10k

3. stamp duty - 500/-

4. registration fee - nominal

5. clerkage/registration agent fee - on actuals. The party can appoint his own agent

6. out of pocket expenses, if any - on actuals

Yusuf Rampurawala
Advocate, Mumbai
7899 Answers
79 Consultations

Mother can gift her share of property to the daughter vide registered gift deed the applicable stamp duty shall be 3 percent of circle rate of her share. The Deed need to be registered before the sub-registrar office.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

See release deed or relinquish also can be made the procedure is same a deed need to be made and registered with the Sub-registrar office but in release deed the stamp.duty shall be 6 percent so better go for gift Deed.

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

This will be through Gift Deed and get it registered with the registrar. The mother will gift her share in the property so be cautious that to pay only for share of the mother the court fees as prescribed.

Koshal Kumar Vatsa
Advocate, Gurgaon
2282 Answers
3 Consultations

Dear Sir,

 

- Generally court takes indemnity bond from another person to release from his/her right.

- You can file the case at Civil Court with affidavit of another person, who is in joint name for release deed.

- It is normal procedure and any lawyer will be able  to help you. 

- Cost in such cases depends upon lawyer to lawyer. 

 

Regards

 

Vivek Arya

Retired Lawyer
Advocate, Gurgaon
767 Answers
6 Consultations

Both release and relinquishment deed can be executed. It has to be mandatorily registered. The stamp duty is minimal as she is relative.

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

Mother is advised to execute gift deed in favour of daughter duly registered to avoid any future legal complications.

Relinquish or release deed are same and charges are nominal but higher than gift deed.
Go for gift deed

Suneel Moudgil
Advocate, Panipat
2386 Answers
6 Consultations

It will cost you less than 2000 rupees same like gift deed procedure. You need to registered with the registrar.

Ganesh Kadam
Advocate, Pune
13008 Answers
267 Consultations

A gift deed is a good option as a gift from mother to her daughter is not taxable. The lawyer shall take his fee and prepare a deed. It has to be registered with the sub registrar.

Regards 

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

Through relinquishment deed mother can execute her share in favor of daughter. 

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

1.For the purpose of getting a relinquishment deed registered it is advised to consult a lawyer who can draft the deed for you. 

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

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

OPTIONS:  From Mother to Daughter

a)  Gift Deed:  Stamp duty 1% of the 50% of Mother share, on the Rateable value of the property.  Registration Fee: 200/- 

b)  Release Deed:  Lumpsum: Stamp Duty: 200/-.  Registration Fee: 1000/- 

c)  Relinquishment Deed:  Not Applicable, legally.

 

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

Mother can execute a registered gift deed in favor of her daughter insofar as her share in the property is concerned.

If I am not wrong there is no stamp duty payable for the transfer of immovable property between blood relations, which you may confirm it from local sources.

 

 

T Kalaiselvan
Advocate, Vellore
89976 Answers
2492 Consultations

Relinquishment or release deed may not be applicable to this situation. The best mode of transfer is by executing a registered gift deed which would be more appropriate.

 

T Kalaiselvan
Advocate, Vellore
89976 Answers
2492 Consultations

  1. As per the Information mentioned in the present query, makes it clear that mother wish to gift her share to daughter and want to transfer the flat to her name only.
  2. Release deed and gift deed are almost serve the same purpose, the only difference is that release deed is considered to be a most appropriate while transferring it to another name ( there is legal reason behind this).
  3. There will be no stamp duty for executing the release or gift deed, only drifting charges and nominal registration fees would required.
  4. But, after this, at the time of getting it mutated on dugahter’s name, there will be stamp duty to be paid to the revenue department.

Sanjay Baniwal
Advocate, South Delhi
5477 Answers
13 Consultations

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