Gift deed son
Guest
(Querist) 22 December 2009
This query is : Resolved
My father intended to give a site of 30x40 in bangalore to me (his son) through gift deed. This property is his self acquired property.
1. Is this type of gift to son is valid?
2. After gift to me (duly registered) is it any right over this property to my sister & brother?
3. How much will be the stamp fee for gift to son?
4. Is it any need to mention my sister & brother details (their financial status, marriage, etc.) in this gift deed.
Please kindly answer to my questions. Thanks
Raj Kumar Makkad
(Expert) 22 December 2009
1. Yes.
2. No.
3. The rates of stamp duty are different from State to State and it shall be better if you enquire from local registering office.
4. It shall be better if donor mentions all facts clearly including the detail of his family.
Kiran Kumar
(Expert) 22 December 2009
well replied by Makkad Sahib :-)
A V Vishal
(Expert) 23 December 2009
Gift is the transfer of certain existing movable or immovable property made voluntarily and without consideration, by one person called the donor, to another, called the donee, and accepted by or on behalf of the donee. Such acceptance may be made during the lifetime of the donor, and while he is still capable of giving. If the donee dies before acceptance, the gift is void. For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses. A fixed stamp duty of Rs.1000 + surcharge & cess and registration fee of Rs.500 is leviable on the transaction.
N RAMESH.
(Expert) 23 December 2009
I agree with experts
Vineet
(Expert) 23 December 2009
I do agree with experts. Please do reconfirm stamp duty on gift deed of immovable property as applicable in Karnataka.
