Property ownership
2 years ago
I want to assure my sister about the property I had in my name, We didn't know how to register, so we made a mistake by registering it in my name instead of my mother's name, now I want to share the property with my sister and assure of this and be precautions about future repercussions regarding the property, Could you please suggest me a possible step to take to avoid conflicts regarding the property.
A.Dear Sir,
You have to first seek the permission of the Bankers and then execute a release deed in favour of your mother. Thereafter your mother may execute a Gift Deed to the extent of 50% of total property in favour of your sister.
Rate me Five Star*
You have to first seek the permission of the Bankers and then execute a release deed in favour of your mother. Thereafter your mother may execute a Gift Deed to the extent of 50% of total property in favour of your sister.
Rate me Five Star*
Helpful
Helpful
Share
Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.If you wish to hold the property jointly with your sister,then you can gift the undivided 50 % share of that property in registered manner in favour of your Sister following all the processes of due execution and registration. Please take note that in case of registered Gift Deed by between brother-sister of same parent you will be entitled to get the reduced Stamp Duty as that of blood relatives.
If the purchase on your part had been done through any loan from any Financial Institution and if that loan is unpaid ,then you have to take permission from such Financial Institution before executing and registering that Gift Deed as well as regarding the liability for payment of such loan.
If the purchase on your part had been done through any loan from any Financial Institution and if that loan is unpaid ,then you have to take permission from such Financial Institution before executing and registering that Gift Deed as well as regarding the liability for payment of such loan.
Helpful
Helpful
Share
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
You can transfer the share in the form of gift. For the purpose of making a gift of immovable property, the transfer must be registered, signed by or on behalf of the donor, and attested by at least two witnesses. The stamp duty, calculated on the basis of the market value of the property (differing from state to state), must be paid at the time of registration.
Please rate my answer
Thank You
You can transfer the share in the form of gift. For the purpose of making a gift of immovable property, the transfer must be registered, signed by or on behalf of the donor, and attested by at least two witnesses. The stamp duty, calculated on the basis of the market value of the property (differing from state to state), must be paid at the time of registration.
Please rate my answer
Thank You
Helpful
Helpful
Share
A.Hi,
You can consult a lawyer for avoiding any further mistakes. If you want to transfer your property to your sister's name, you can do it in the form of gift. You can transfer the property as a gift to your sister and your sister should accept the same. That should be registered and attested by minimum two witness.
Please rate my answer
Thank You
You can consult a lawyer for avoiding any further mistakes. If you want to transfer your property to your sister's name, you can do it in the form of gift. You can transfer the property as a gift to your sister and your sister should accept the same. That should be registered and attested by minimum two witness.
Please rate my answer
Thank You
Helpful
Helpful
Share
Read Related Answers
Decree by court i r o Specific PERFORMANCE of contract agreement
Dear Sir,
It is a disputed issue which has to be decided again by the Civil Court and you must seek cancellation of such judgment since you are in possession of regular Sale Deed before judgment was p...
Property and Home loan
Dear Sir,
It is a complicated issue. Now a days you cannot believe even the family members. If you go legally it will take years together. If there is possibility take possession of some part of the h...
Remove co owner from FLAT BBA if he is not giving his consent
Dear Sir,
You have to get issue a legal notice to remove co-owners name as it was only for name sake as there was no contribution from him. If builder did not do that then you have to approach Civil C...
Land dispute
Dear Sir,
Approach Civil Court and get permanent injunction against him as he is unnecessarily interfering with your legal possession. If anything is encroached by you it has been perfected by way of...
Partition suit - Rent being given to Non legal heir
Dear Sir,
My answers are as follows:
1. How do I recover this 50% money which is being transferred to my aunty? Aunty is not the legal heir. My brother and I are legal heirs.
Ans: Your aunty is a str...
Read Blogs on Property
Property Lawyers
Find Lawyers by Location
