Transfer of Ownership through Gift Deed from son to mother
Son and mother are joint owners of a property in Delhi. Son wants to get his name deleted from the property ownership so that the property is only in the mothers name. Son is an NRI . He does not want any money to be given to him . Can the son make a Gift Deed for his ownership to be void so that the property is only a single name of the mother. Can gift be made for nil value and only states "ownership " transfer. By this way can any tax like gift tax or any other Government tax be avoided. Suppose a gift tax is necessary as per law , even though no money is being transferred between either party, what are the charges to be incurred by both parties and what are the documents necessary. Registration of the new document of single ownership would be done.
Can this be a method of transfer of ownership from son to mother? Is there any other method legally available so that costs are minimal ?
What are the charges for Gift Deed of nil value of transfer if this method is the only cheap way out ?
What would be the registration charges for a Property Registration with MCD with nil value of money involved?
What are the legal charges of a lawyer?
Can you suggest any simple and good and cheap method of son giving the entire ownership to his mother. He seriously does not want to get into the cumbersome legal hassles of India and also does not want to travel up and down to India for the same.
Hope the problem is understood and now request your right and good advise.
The son can give POA to his father .
I have already paid Rs 400/ through this portal.