How to transfer house on son's name without stamp duty
my father ,age 97,wants to transfer his house on my name.we are 3 brothers[-2 alive],4 sisters.now is there any way to transfer without sale deed.father has given me the said property by will.but he wishes to get transfered in his presence. i have heard that we can do this on 100/rs.stamp .so pl.gude me ,how to do this.
Asked 2 years ago in Property Law from Ahmedabad, Gujarat
your father can execute gift deed in your favour . it has to be stamped and duly registered .
please note that stamp duty would not be Rs 100 . it would be 2%of market value of property atleast in mahrashtra
The Will takes effect only on death of your father and that too if your brothers and sistsrs do not oppose this.
So better option is to execute a gift deed which is not possible on a Rs.100/- stamp paper but on payment of stamp duty calculated on the market vaue of the property which WB IS 0.5%.
Consult a local lawyer.
Let your father gift the property to you through gift deed. The stamp duty varies from State to State. Pls check the stamp duty prevailing in your state.
Hi, if it is a self acquired property then your father can gift to you the property and property will transferred immediately.
1. You can not transfer the title of the property of your father to you during his life time without paying stamp duty,
2. He can execute a Will in your favour without any stamp duty but in that case you will get the property after his demise only, that too if probate of the Will is taken by you.
No property can be transferred on Rs.100 stamp paper.He has executed Will in your favour but it will only come into effect after his demise.So, pay proper stamp duty and get a Gift Deed executed and registered.
Advocate, New Delhi