Deed of cancellation of gift deed can be executed by mutual consent of parties
it would attract nominal stamp duty
exact stamp duty local lawyer can guide you
Settlement of property by daughter on mother
My mother settled an apartment in Chennai in my name. As I am leaving India permanently to live abroad, I wish to settle this property back to my mother. Will the concessional rates of stamp duty Rs 25000 and registration charges Rs 4000 be applicable for this transaction.
Asked 3 years ago in Property Law
Religion: Hindu
14 Answers
- Since, the said property is presently in your name registered , then you can transfer the said property back to your mother by way of a Registered Gift deed.
- The stamp duty being blood related is nominal .
- However, if it came to you by way of Gift deed , then you both can cancel this gift deed , after registering a Cancellation deed.
Hello,
- The stamp duty and registration charges will depend on the instrument that is being used for the transfer of the property back to your mother.
- A transfer by Gift Deed would be one that can keep the stamp duty at minimum taking advantage of the blood relation between the parties. However the value of the property in question will be a consideration in this.
Yes you will again incur stamp duty and registration applicable at your jurisdiction
1. YES .... Legally you may execute a registered Gift Deed in favor of your Mother, that you earlier received from her.
2. Further IF earlier Settlement Deed is less than Six months old, THEN you may execute registered "Revocation Deed" of earlier settlement deed and the property will revert back to Mother.
3. Consult a local Property Lawyer, for the above purposes with all the available documents.
Since stamp duty and registration fees differ in every state someone from Chennai can help you.
On the basis of your information it can be said that if the nature of document remains same like before the rate of stamp duty and registration fees will also remain same. The amount may differ if the valuation of the property has increased in the meantime.
The Answer is No.
You need to furnish more details of first settlement by your mother to you and full description of property value and area to ascertain stamp duty and registration charges for the same.
Why don't you prepare a WILL and execute it in favour of your mother which may be done within INR 50,000/-
Yes
Better execute cancellation deed. Miminal fees.
The applicable charges including the stamp duty for registered settlement deed in favor of mother by a son shall be payable, there is no exemption to it.
The said rates or the charges shall be payable by you for this registered transaction.
Yes concessional rates will be applicable for gift deed in blood relation.
As per Tamilnadu Govt stamp duty and registration charges for Gift Deed Registration
Stamp Duty: 7% of the market value of the property.
Registration Fee: 1% of the market value of the property.
stamp duty is state subject varies from state to state. Please consult local lawyer who is more conversant with local laws.
Yes all the required stamp duty has to be paid by you.
