Property can be exchanged through gift deed between any one friends or relative. It is preferred mode of transfer between relatives coz it stamp duty on gift deed between relatives is minimal.
Can a gift deed be executed between friends? Or is the gift deed only applicable to family members?
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Property can be exchanged through gift deed between any one friends or relative. It is preferred mode of transfer between relatives coz it stamp duty on gift deed between relatives is minimal.
An immovable property can be transferred by one friend to another also by executing a registered gift deed.
The applicable stamp duty would at 7% of government guidelines value besides registration charges.
Gift deed can be done with any person but within family members stamp duty registration charges are less as compared to outside members.
- YES, a Gift deed can be executed between friends as well , but it attracts more stamp duty and less stamp duty if given to blood related.
Hi, gift deed can be executed between the friends. However you need to pay stamp duty on the market value of the property.
A gift of one's assets can be made legally to any person the donor wishes. So, a gift deed can be executed in favour of a friend. There is no legal impediment in such a case.