Transfer of residential plot from father to son


Hello Everyone,

We had a family property purchased on name of my cousin brother (father's brother Son).  After mutual partition of property, my cousin brother had gifted our share of residential plot to my father by gift deed in order to avoid capital gain Tax.  Now we are planning to construct a house over that and in order to avoid any legal issues/ loan problems in future, my father wants to transfer the residential plot on my name before starting its construction. 

What is the procedure to transfer such residential plot from my father to me without incurring any stamp duty.

Kindly advise.

Thanks & Regards,

 

Siddharth

 
Reply   
 
Advocate

Dear siddarth,

your father can make a gift deed of the property to you by paying a nominal stamp duty charges . However, if proper stamp duty is paid it is better ,in which case you derive a good title, if any dispute arises in future.


Total likes : 1 times

 
Reply   
 



yes your father can execute gift deed in your name . have it duly stamped and registered .

 
Reply   
 

 

Thanks for your quick reply.

 

Sir, 

Apart from Gift deed, is there any other way to transfer the property from father to Son. 

 

We had made gift deed from my cousin to father last month only and therefore my father is not interested in spending double amount on stamp duty. Dont we have any other option apart from Gift deed.

 

Regards,

 

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








web analytics