Milind (Engineer) 31 January 2015

Possession letter - if property received as gift

Hello,

If i am receiving a flat as gift from my parents thru a registered gift deed (stamp duty). will there be a need for a posession letter signed by donor and donee to validate physical acceptance of the flat or will registration and stamp duty be sufficient.

Will society transfer the flat just on the basis of gift deed ?

thanks

Milind

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3 Replies

Adv. Dhamale (Lawyer) 01 February 2015

Possession can be given under the gift deed itself...provided the property/flat is already constructed... A society has its own byelaws which are required to be followed, like applicatikon forms from outgoing and incoming members etc...

Dr J C Vashista (Advocate) 01 February 2015

On the basis of gift deed it can be handed over to you.

T. Kalaiselvan, Advocate (Advocate) 02 February 2015

Execution of gift deed itself is deemed to have conveyed the possession. The donee has to comply with the formalities meant for transferring the rights or share from the donor unto himself/herself of the society as per the rules or its bye laws..