• Inheritance or gift of property

Hello,

I am a US Permanent Resident. My mother who owns a property in India wants to transfer the title of the property to me while she is alive so I wouldnt have to handle the registration and title change and all that once she passes. 
1. Is this a good way to do handle this?
2. Would it better for me to inherit it?

M
Asked 3 months ago in Property Law
Religion: Hindu

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12 Answers

Your mother can execute gift deed in your favour 


it should be duly stamped and registered 

 

gift deed is better 

Ajay Sethi
Advocate, Mumbai
84070 Answers
5480 Consultations

5.0 on 5.0

Dear Sir/Madam,

1. Definitely this is a better way to transfer property than through a will or a gift deed because they would take a lot of formalities to be registered.

2. In order to validate an inheritance, you will have to obtain a probate and pay court fees for the same, which is tedious 

Thank you

God Bless

Anik Miu
Advocate, Bangalore
2499 Answers
26 Consultations

4.9 on 5.0

If you are the sole issue then you inherit automatically after her demise. 

Regards 

G.RAJAGANAPATHY 

High Court of Madras 

Rajaganapathy Ganesan
Advocate, Chennai
2001 Answers
8 Consultations

4.9 on 5.0

take the transfer during your lifetime

have a gift deed executed and registered

after demise, there will be legal procedures like obtaining letters of administration or heirship certificate and other complications

so better do whatever in her lifetime itself provided she is voluntarily willing to transfer her property to you

Yusuf Rampurawala
Advocate, Mumbai
6435 Answers
54 Consultations

5.0 on 5.0

1. Your mother can transfer the residential or any other immovable property other than an agricultural property to your name by executing a registered gift settlement deed during her lifetime.

2. Inheritance would happen only after her lifetime and not before that.

So you can think about it accordingly.

T Kalaiselvan
Advocate, Vellore
74174 Answers
1203 Consultations

5.0 on 5.0

1. Yes , your mother can transfer any property except an agriculture land to you by way of registered gift deed 

2. If she is not ready for the gift deed , then she can write a WILL in your name in the presence of two witnesses. 

- For gift deed transfer of property is mandatory with the registration , whereas in case of WILL , the property will be delivered after the demise of mother. 

Mohammed Shahzad
Advocate, Delhi
7982 Answers
85 Consultations

5.0 on 5.0

Specific POA has to be executed 

 

it should be attested before Indian consulate 

 

Once gift deed is executed mother would be absolute owner of property 

 

You are not liable fir payment of any taxes 

Ajay Sethi
Advocate, Mumbai
84070 Answers
5480 Consultations

5.0 on 5.0

- You can give POA dully notarized as per rule of US , and further attested the same from the consulate of India

- For gift deed in blood related , some states have exempted from the stamp duty , and no tax involved . 

Mohammed Shahzad
Advocate, Delhi
7982 Answers
85 Consultations

5.0 on 5.0

1. If your mother wants to transfer the title of her property in your name, she shall have to execute and register a Deed of Conveyance in connection with the said property in your favour For registering a gift deed, you also shall have to sign the gift deed as the token of your acceptance of the gift as prescribed in law.

 

2. If you are the sole legal heir of your mother then you can inherit the same for which you shall have to obtain the legal heir certificate from the ward Councilor of your Municipal Corporation.

 

3. It is advisable to get the gift deed registered though it will attract stamp duty and registration fee.

Krishna Kishore Ganguly
Advocate, Kolkata
26030 Answers
726 Consultations

5.0 on 5.0

1. As explained above, she shall have to execute and register a gift deed in your favour conveying her said property

 

2. In the said gift deed, you shall have to append your signature as a token of acceptance.

 

3. You can get the gift deed  printed on the stamp paper sent to your place and append your signature on it duly accepting the said gift before the appropriate officer of your local Indian Consulate and return the same to your mother for registering the same.

 

4. Ask your mother to engage a local lawyer for completing the entire job.

Krishna Kishore Ganguly
Advocate, Kolkata
26030 Answers
726 Consultations

5.0 on 5.0

Dear sir,

The gift of any asset (whether movable or immovable) made to certain specified relatives, is fully exempt from tax in the hand of the recipient, without any upper limit.

Thank you

 

Anik Miu
Advocate, Bangalore
2499 Answers
26 Consultations

4.9 on 5.0

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

There is no tax implications involved in this. 

T Kalaiselvan
Advocate, Vellore
74174 Answers
1203 Consultations

5.0 on 5.0

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