Hi,
My dad bought a property long time back but did not apply for Khatha. He now wants to gift it to my brother who is a US citizen.
Should he get the Khatha first or can he gift it to my brother without it?
Let me know, thanks!
Asha
Asha 19 November 2016
Hi,
My dad bought a property long time back but did not apply for Khatha. He now wants to gift it to my brother who is a US citizen.
Should he get the Khatha first or can he gift it to my brother without it?
Let me know, thanks!
Asha
Kumar Doab (FIN) 19 November 2016
Owner can gift.
Better to get name entered in mutation records.
Taxes part may be looked into.
Immediately update land records
Reason
1) Old owners on land record some time claims ownership
2) Legal heirs of such owners on land record claim ownership
3) State taxes like stamp duty or registration fee is not paid properly
4) It can be taken as Benami transaction too since owner on record is some one and real owner is different (PM Modi Benami transaction announcement you may be knowing)
5) Chances of litigation in this matter is high now or if matter kept pending which will be more difficult since brother in USA
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Once record is updated all title clear then you need to refer both countries law regarding taxation