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Transfer of ownership
2 years ago
My maternal grandfather wants to transfer his home on my name, but cannot do it right now bcoz he is bedridden and also transferring takes lots of money. What else can I do to transfer it on my name???
A.Dear Client,
She can transfer home though a gift deed as in gift deed if property is given to family member then the cost is around 0.5% of property market value which is much less than cost of transferring as it cost around 7-8% of property market value. The more suitable option is transfer property through WILL as you only have to pay only registration fess and no stamp duty.
Thank You.
She can transfer home though a gift deed as in gift deed if property is given to family member then the cost is around 0.5% of property market value which is much less than cost of transferring as it cost around 7-8% of property market value. The more suitable option is transfer property through WILL as you only have to pay only registration fess and no stamp duty.
Thank You.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.It is necessary on your part to make Will of your grandfather following all the procedural formalities as well as making the family physician of your maternal grandfather as one of the witnesses therein and it is advisable to make that Will registered.
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