Hakka sod patra or gift deed

Dear Sir,
Better approach local lawyer of Maharashtra State because some circulars or some special act might be enacted by the State Government. Accordingly, the Gift Deed may be executed and may become valid.

Dear Client,
A co-owner can gift their share of the property to another co-owner, as long as the other co-owner is aware of and consents to the transaction. Section 44 of the Transfer of Property Act, 1882 (TPA), deals with transfers by co-owners. The co-owners have the right to use, dispose of, and possess the property. As per Section 44 of TPA, if one of the co-owners transfers his share in the property, the transferee becomes the sole owner of the property. The Gift deed should be properly executed and registered under the Registration Act, paying the requisite stamp duties. Stamp duty is levied based on the market value or the set forth value of the property, whichever is higher. Stamp duty on gift deeds in blood relation varies from state to state, ranging from 1% to 3% of the property value, and is less than other modes of transfer.

Dear Client,

Yes, a a Gift Deed can be executed in favor of a sister for a land property jointly purchased by siblings, depending on the ownership structure and intent.

If the property is already jointly owned, a gift deed is appropriate, allowing one sibling to relinquish their share in favor of the other without monetary consideration. This is commonly used among legal heirs or co-owners, and in states like Maharashtra, the stamp duty is nominal registration charges around Rs. 1,000.

Alternatively, a Gift Deed can be executed if one sibling wishes to voluntarily transfer their share or the entire property to the other as a gift. This too requires registration and, when executed between siblings, attracts concessional stamp dutyregistration fees of about 1% of the market value.