Yes it is a possible by making a gift deed in favour of the girl and the custodian of the child will have the possession of the property for the benefit of the minor child Till the age she gets majority
I am from gujarat( anand district).I want to gift my daughter whos age is 2 . I am a leagal farmer and so my daughter is also get this right. Actually my mother in law ( whos not a farmer)wants to gift her agricultural land or residential plot. Can i or my mother in law do so in her name as a gift deed or something else in gujarat?? Whats the legal process and how much the cost is?
Yes it is a possible by making a gift deed in favour of the girl and the custodian of the child will have the possession of the property for the benefit of the minor child Till the age she gets majority
Respected sir...
You can easily do the same with the help of gift deed and then you can transfer your property which you want to gift her ... Gift deed will help you and work for you.. ..
Thank you
1) You and your mother-in-law can make gift deed on your minor daughter name plus you will be guardian till she became major age.
For further Gift deed you can contact me.
Dear Client,
Minor shall be consider as agriculturist and gift of agricultural land permitted. Residential property can be gifted without carrying of status whether agriculturist or not.
Gift deed will execute and register at sub registrar office. 3% Stamp Duty payable.
1)gift deed can be executed in favour of minor daughter
2) gift deed should be duly stamped and registered
The agricultural land can be gifted to your daughter and a gift deed has to be prepared for this.the natural guardian will take take care of the property until the girl is a minor and after she becomes a major she would have full control of the property.
Regards
1)A gift to a minor is always valid since a guardian must have been mentioned thereover. However after the gift is registered, the property belongs to the donee, i.e. minor, hence unless the guardian of the minor who was the appointed guardian of the gift deed, decides the property to further gift or sell to anybody else, the property cannot be trasferred. Once the minor becomes major, the roll of the appointed guardian ceases to have any effect. Then the donee can gift or sell to anybody else whoever she wants.
2)Stamp duty is vary from state to state.
Sir gifting her agriculture land by mother in law is not.possoble as she is not farmer but yes she can gift residential plot to minor daughter by keeping you as legal guardian of her.
Cost shall be stamp duty on circle/jantari of property.
1. Your minor daughter is from Agriculturist family.
2. You or your mother in law can gift her agricultural or residencial land or any other property by registering the gift deed in her favour.
3. It is to be kept in mind that the said property gifted to her can not be dealt with in any way with out the consent of the local District Judge.
Dear Sir,
A minor, being incompetent to contract is incompetent to transfer. A gift by a minoris void. However, a minor can accept gifts. A natural guardian can accept a gift on behalf of a minor with the condition that the person nominated in the gift deed will act as a manager of the gifted property
If you gift to a minor
If the person to whom you gift the property is a minor, you will have to involve his natural guardians. Once the minor attains adulthood, he or she has the right to accept or reject the gift.
the following ingredients in order to constitute a gift.
The Act further says that the acceptance should be made during the lifetime of the donor and while he is still capable of giving. This is mentioned in order to contrast it with Will, since only a Will can be used to transfer a property legally after the death of a person. In case the donee dies before giving the acceptance, the legal validity of the deed will be compromised as well.
How To Gift A Property Using A Gift Deed?
Section 123 of the Transfer of Property Act lays down the procedure for gifting a property. It says that an immovable property can be gifted only through a registered instrument called a gift deed.
Registration involves visiting the concerned Sub-registrar office and fulfilling certain procedures along with payment of requisite stamp duty and registration fees. After that, the property title passes on to the donee. According to Indian Laws, immovable property means land and things attached to it including buildings. However, standing timber, grass and growing crops are not considered as immovable property.
A movable property may be gifted just by delivery of physical possession. The process of gifting is as simple as delivery of goods.
Stamp Duty Requirement And Registration
A Gift Deed is a compulsorily registrable document under the Indian Registration Act, 1908. The stamp duty requirements in Gujarat are governed under the Bombay Stamp Act, 1958. Section 28 of the Act says that gift deeds for immovable property should be 3.5 percent of the market value of the property to be gifted.
Yes its possible, for that you have to prepare gift deed along with all the details for land. And It has to be registered with concern SRO. So its possible
Hello,
Gift deed can be made through some guardian.
In India a minor can not enter into a contract therefore some one on her behalf will have to sign and execute the documents.
Regards
The property can be transferred to a minor child by a registered gift deed however a guardian either mother or father can be appointed to take care of the property during the minority of the child.
The cost for this deed can be enquired from the local registrar's office.
1. A gift deed can be executed even in favour of a minor. The title of the gifted property passes instantaneously from the donor to donee, and thereafter donor ceases to have any right, title or interest in the property.
2. Gift deed has to be registered.
3. Get a flawless gift deed drafted from a lawyer.