• Gift Settlement deed

I want to know the difference between gist deed and gist settlement deed and the charges to be paid for the same
Asked 10 days ago in Property Law from Hyderabad, Telangana
Religion: Christian

Gift deed a gift can be given to anyone but in the case of gift settlement deed a gift can be made only to family members, blood relations.

Mohammed Mujeeb
Advocate, Hyderabad
13806 Answers
6 Consultations

4.5 on 5.0

See gift deed is made for property gift  without consideration and there is no thing as gift settlement as gift and settlement are different thing.

Shubham Jhajharia
Advocate, Ahmedabad
22856 Answers
92 Consultations

5.0 on 5.0

See stamp duty and registration as per state on settlement and gift is applicable.

In Telangana stamp duty for gift and settlement deed ate same.

Shubham Jhajharia
Advocate, Ahmedabad
22856 Answers
92 Consultations

5.0 on 5.0

1. "Gift Deed" can be executed between two blood relations with highly discounted rates. Stamp Duty 1% and Registration Fees 1000/-. Gift Deed is without any monetary consideration etc....

2. Family Settlement Deed can be with the entire family /relatives and can be with monetary consideration. Stamp Duty and Registration Fees shall depend on the circle value of the property. 

Hemant Agarwal
Advocate, Mumbai
3669 Answers
19 Consultations

5.0 on 5.0

gift deed is executed out of natural love and affection 

 

2) family settlement refers to agreement between family members for resolution of disputes between family members . it provides for division of property among family members 

Ajay Sethi
Advocate, Mumbai
72014 Answers
4331 Consultations

5.0 on 5.0

stamp duty is state subject and varies from state to state 

 

you can execute gift deed in favour of grand children 

 

it would attract concessional stamp duty 

Ajay Sethi
Advocate, Mumbai
72014 Answers
4331 Consultations

5.0 on 5.0

You can click on the link to calculate the registrations and stamp duty in Telangana: http:// registration.telangana.gov.in/TGMV_Client/index.

 jsp

Mohammed Mujeeb
Advocate, Hyderabad
13806 Answers
6 Consultations

4.5 on 5.0

There is no much difference between gift deed and Gift settlement Deed. Gift deed can be given to any person and stamp duty is paid accordingly. whereas Gift Settlement Deed is made in favor of family members /blood relations only and the stamp duty is lesser compare to Gift deed.

GIFT deed has less stamp duty if donee is blood relative. Settlement deed attracts 5% stamp duty.

Yogendra Singh Rajawat
Advocate, Jaipur
16702 Answers
21 Consultations

4.6 on 5.0

It's both the same. The charges vary as per the blood relationship and other people. Registration charges are fixed

Prashant Nayak
Advocate, Mumbai
16667 Answers
30 Consultations

4.6 on 5.0

There is no much difference between gift deed and Gift settlement Deed. Gift deed can be given to any person and stamp duty is paid accordingly. whereas Gift Settlement Deed is made in favour of family members /blood relations only and the stamp duty is lesser compare to Gift deed.

Ganesh Kadam
Advocate, Pune
9026 Answers
74 Consultations

4.9 on 5.0

Dear Sir,

Gift is, by someone to someone, without any consideration.

Settlement is an understanding between two persons with mutual or common interests and consideration.

Gift is irrevocable,

Settlement can be challenged by any of patties.

Settlement Deed - A settlement deed is a disposition in writing of movable or immovable property made in consideration of marriage, for the purpose of distributing properties of the Settler among his family, or those for whom he desires to provide for, or for the purpose of providing for some person dependent on him, or for any religious or charitable purposes.

For example:- In case of family settlement deed father died without making any will then his daughter, son became the class one hairs and they all are entitled to distribute whole the property equally amongst them is called settlement deed.

Gift Deed - Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. Like a sale deed, a gift deed contains details of the property, the transferred and the recipient. But instead of sale consideration in a sale deed, a gift deed allows you to transfer ownership without any exchange of money.

 

Stamp duty is a state subject and is fixed by the state government. For example, in Hyderabad, the base Telangana Stamp Duty rate of apartment/ flat is 4%, transfer duty is 1.5%, and the registration fee is 0.5% of the higher of the two, market value or consideration of the property. Stamp Duty Charges is imposed distinctly on the absolute salable estimation of the property, which is determined by first duplicating the size of the property with its direction esteem or the market worth given by the developer. At that point, vehicle parking charges and floor rise, or special area charges (PLC) are added to give the total liable estimation of the property. 

Netravathi Kalaskar
Advocate, Bengaluru
4587 Answers
22 Consultations

4.8 on 5.0

there is no much difference between gift deed and Gift settlement Deed. Gift deed can be given to any person and stamp duty is paid accordingly. whereas Gift Settlement Deed is made in favour of family members /blood relations only and the stamp duty is lesser compare to Gift deed

T Kalaiselvan
Advocate, Vellore
61958 Answers
799 Consultations

5.0 on 5.0

The stamp duty on the gift settlement deed is lesser to that of the gift deed.

The stamp duty differs from one state to another hence the applicable rate may be enquired from local sub registrar office.

T Kalaiselvan
Advocate, Vellore
61958 Answers
799 Consultations

5.0 on 5.0

1. Gift deed is excuted when donor want to gift some property to donee without any consideration.

2. A settlement deed is the document which is executed for settlement of properties in exchange of other property or consideration between two or more owners.  

Mohit Kapoor
Advocate, Rohtak
6547 Answers
2 Consultations

5.0 on 5.0

1. In gift the only consideration is love and affection, whereas in a settlement deed the consideration can be monetary also.

2. Both are required to be registered, except in some states where the transfer of property between blood relatives has been exempted from payment of stamp duty.

Ashish Davessar
Advocate, Jaipur
27476 Answers
812 Consultations

5.0 on 5.0

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