• Transfer of flat from mother to wife

The flat in Mumbai, in which I am staying, is in my mother's name. She wants to transfer it to my wife's name. Hence transfer is from mother in law to daughter in law.

What is the procedure for transfer? What paperwork is involved with the housing society? Is stamp duty payable? Any taxes involved?
Asked 6 years ago in Property Law
Religion: Hindu

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12 Answers

Gift deed should be executed by mother in favour of daughter in law 

 

2) it should be duly stamped and registered 

 

3) obtain NOC from society for transfer of flat in your wife name 

 

4) you have to pay stamp duty at 5 per cent of market value of flat 

Ajay Sethi
Advocate, Mumbai
99796 Answers
8147 Consultations

If your mother transfers the flat to you  as a gift there would be no tax issues. Afterwards youbcan transfer it to your wife.

Regards 

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

She can execute a registered gift deed in favour of her daughter in law.  Yes stamp duty applicable. Capital gain tax applicable to daughter in law as per income tax laws

Prashant Nayak
Advocate, Mumbai
34529 Answers
249 Consultations

Yes, your mother can do this by way of gift deed. 

The society after the gift deed registered will issue share certificate in the name of your wife to make her member in place of your mother.

To know the stamp duty you need to meet and ask the registration office staff as the same varies in every state. 

Devajyoti Barman
Advocate, Kolkata
23655 Answers
537 Consultations

Mother can gift the flat to your wife through registered gift deed,  the gift deed has to be registered before the sub-registrar office and stamp duty on it has to be paid @ 3 percent. 

On gift there is no tax. 

Shubham Jhajharia
Advocate, Ahmedabad
25513 Answers
179 Consultations

She can make a gift deed

Stamp duty and registration fee will be payable 

Stamp duty is 3% of market value of flat

Society transfer forms have to be submitted to society after registration of gift deed

No taxes as it will be a gift 

Lawyer fees and registration agent charges will be extra

Yusuf Rampurawala
Advocate, Mumbai
7900 Answers
79 Consultations

1. Mother can execute GIFT DEED, in favor of Daugher-in-Law (DIL)

a)  Stamp Duty - 4% on the rateable value of the property

b)  Registration Fees - 30,000/-  (maximum)

c)  Registration agents fees:  [deleted] (depends)

 

2)  Society Transfer Fees & Forms:

a)  Membership Entrance Fees - 100/-

b)  Membership Tranfer Fees - 500/-

c)  Transfer Form, no. 20(1), 20(2), 4, 21, 23

 

3)  No Gift Tax or other taxes, is payable.

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

GIFT deed will execute and register at sub registrar office. No stamp duty payable if execute in favor of blood relative. Daughter in law dose not comes under BR, so 6% duty.

Yogendra Singh Rajawat
Advocate, Jaipur
23082 Answers
31 Consultations

Your mother can transfer the property to your wife's name by executing a registered gift deed.

The appropriate stamp duty is to be paid.

There are no tax implications involved in this.

For transfer of share certificate in society, you may apply for the same in the necessary format available in the society and to comply with the formalities in this regard.

T Kalaiselvan
Advocate, Vellore
89998 Answers
2496 Consultations

Your mother can transfer said property through gift deed, it should be duly stamped and registered. 

Mohammed Mujeeb
Advocate, Hyderabad
19325 Answers
32 Consultations

This is my response to you:

1. You will have to enter into a gift deed;

2. A gift deed will fetch you heavy stamp duty in this scenario;

3. Rather do a gift deed where your mother transfers to you. You then give it to your wife;

4. This will save you thousands of rupees on stamp duty;

5. consult a local lawyer and take steps.

Gowaal Padavi
Advocate, Mumbai
1919 Answers
5 Consultations

Dear CLient

for transferring of property from your mother name to your wife name your mother can execute a Gift deed in favor of her daughter in law. as per section 122 of Transfer of property act. 

the Stamp duty fees is 3% of market value of property in maharastra. and registration fees is rs 200. any transfer of property under a gift is not considered as a taxable transfer so you can save tax by gift deed.

Mohit Kapoor
Advocate, Rohtak
10686 Answers
7 Consultations

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