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Discussion > Property Law > Others > Transfer of residential plot from father to son   Unanswered Threads Post New Topic

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Siddharth Agrawal


Proprietor
[ Scorecard : 26]
Posted On 07 December 2011 at 11:16 Report Abuse

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



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Advocate Vishnu


Advocate
[ Scorecard : 1496]
Posted On 07 December 2011 at 12:00 Report Abuse

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 thanks : 1 times


ajay sethi


lawyer
[ Scorecard : 82116]
Posted On 07 December 2011 at 12:23 Report Abuse

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



Siddharth Agrawal


Proprietor
[ Scorecard : 26]
Posted On 07 December 2011 at 12:48 Report Abuse

 

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,

 




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