Hi,a gift deed can be registered in favour of your sister ..No Stamp duty has to be paid in gift deed ..However,the nominal registration charges has to be paid ..
Gift of property
We are five 3+2 brothers and sisters . Our ancestrol house in amritsar has been divided by registrar equally after demise of our mother 1988 .,our father died in 1972. We want to gift our share to our widow sister in law age 70 yrs who is alone staying in that house . How to gift without paying any stamp duty .
Asked 4 years ago in Property Law
Religion: Hindu
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18 Answers
Our parents left no will . There is no dispute we three brothers were supposed to share as per desire of our parents . we have divided the house and made an legal agreement but not registered . Subsequently we learnt that property has been divided in five names adding 2 sisters too by registrar ..However sisters have given POA also stated that they do not wish share of property. Can we all gift property to our sis in law wife of eldest brother a widow . with out Paying any transfer charges
Asked 4 years ago
Haryana charges stamp duty at 7% for transferring property even to family members while in case of women it is 5%.
Minimal charges have to be paid for gift deed
- The Gift deed allows you to gift your property/assets or transfer ownership without any exchange of money.
- Further , to gift immovable property, you just have to draft the document on a stamp paper, have it attested by two witnesses .
- Further ,as per Section 17 of the Registration Act, 1908 registering a gift deed with the sub-registrar is mandatory , failing which the transfer will be invalid.
- Further , if you want to gift movable property like jewellery, registration is not compulsory.
- However, in Haryana , there is no stamp duty on transfer of immovable property to blood relations, including children, grandchildren, spouse, brothers and sisters.
You have to pay stamp duty on execution of gift deed in favour of sister in law
Gift deed can be executed but stamp duty is payable
All the shareholders can execute a registered release deed in favor of the widow sister in relinquishing your rights in the property.
This registered transfer in her favor shall make her an absolute owner with clear and marketable title to the property.
The applicable stamp duty has to be paid for executing the rgistered release deed ion her favor relinquishing your rights in the property.
You cannot avoid paying the applicable stamp duty and registration charges.
The gift deed has to be made and registered. Then she may take possession. Stamp duty has to be paid. You cannot escape that.
The property can be transferred by making a gift deed and all of you must sign it. Stamp duty has to be paid.
You can execute a registered gift deed in this case in favour of your sister.
Yes,Definitely you may do it but Registration charges of Gift deed may be payable by you to registering authorities under the law.
You can execute gift deed in favour of her. This will give her full rights upon the property and you will not have to pay any charges/stamp duty.
No, you must have to pay the stamp duty.
No stamp duty if gifted to family members. Only regular Registration charges will apply.
As per HSA sister in law and daughter are family members who are entitled for gift which doesn't attract stamp duty except regular registration charges.
1. All legal heirs who want to give their share to one joint owner should execute relinquishment deed in favour of beneficiary if she is also co-owner of that property.
2. If she is not co-owner then all share holders should execute gift deed in favour of your sister in law.
Stamp duty is a state subject. It varies from state to state. In certain states, transfer of property attracts very less duty in case of gifts to relatives.
You can execute gift deed but you have to pay stamp duty.