Gur Pritpal Singh 17 March 2018

Property Transfer

What expenses are involved if property is transferred by Gift deed to children and if it is acquired as per Will made by parents?

Reply Follow

7 Replies

KISHAN DUTT KALASKAR (Advocate) 17 March 2018

Dear Sir/Madam,

Since your case is complicated case as such I require documents and same may be send to my email/PM (personal mail) for detailed legal advise.

With regards,

Legal Expert

SHIRISH PAWAR, 7738990900 (Advocate) 17 March 2018

Stamp duty varies states to state however gift deed would be

SHIRISH PAWAR, 7738990900 (Advocate) 17 March 2018

stamp duty varies state to state however gift deed would be less expensive in my view. appoint advocate and consult with him.

R.Ramachandran (Advocate) 17 March 2018

If it is a Gift Deed, then the stamp duty as applicable for normal sale of immovable property has to be paid. This is really expensive and can be avoidable. If Gift Deed is made, then the property gets transferred to the donee immediately, and the donor cannot do anything about it, even if the donee children do not treat the donor properly or take care of the donor.

On the contrary, making a Registered WILL is cheaper. This does not involve any Stamp Duty At all. The plus point is, during the life time of the person making the WILL, the property will be under the complete control of that person and does not pass on to the person in whose favour the property is WILLED. Further, if the person(s) in whose favour the property is being WILLed do not behave properly or change their behaviour, one can always cancel the WILL. The WILL will take effect only after the death of the person making the WILL.