Gifting a land to mother/father
jewel
(Querist) 08 July 2013
This query is : Resolved
Hello experts,
I want to know what is the most economical way to transfer the land in my name to mother/father in Uttar Pradesh.
What would be approximate charges for the same?
What is the safegurad to ensure that the property comes back to me after my parents?
regards
jewel
ajay sethi
(Expert) 08 July 2013
you can execute gift deed in favour of your parents . however please note that once you execute gift deed your parents become absolute owners of property . no guarantee that you will get the property back as they can bequeath it to whom soever they desire
jewel
(Querist) 08 July 2013
Thank you Mr. Ajay. The query is still unresolved. What is the approx. charges for executing gift deed of land in UP?
regards
jewel
ajay sethi
(Expert) 08 July 2013
that only a local lawyer can advise you . in mahrashtra for gift deed it is 2%stamp duty . drafting charges vary . in addition gift deed has to be regd
R.K Nanda
(Expert) 08 July 2013
gift deed is the best remedy .
jewel
(Querist) 08 July 2013
In UP, it seems that the gift deed requires the same stamp as that of registry.So its of no use.
Power of attorney is however valid among blood relatives and that if registered, serves the purpose.
please advise , whether it would be a good option.
regards
jewel
Rajendra K Goyal
(Expert) 08 July 2013
Gift deed is better, for stamp duty consult a local lawyer.
Raj Kumar Makkad
(Expert) 09 July 2013
Only 2% stamp duty is required in UP on gift deed whereas the stamp duty is 5-7% on sale-deed so gift deed registration is the only option as desired by you.
Raj Kumar Makkad
(Expert) 09 July 2013
Only 2% stamp duty is required in UP on gift deed whereas the stamp duty is 5-7% on sale-deed so gift deed registration is the only option as desired by you.
jewel
(Querist) 10 July 2013
dear Raj ji,
somebody in the tehsil told me that the stamp duty on the gift deed is same as the stamp duty on sale deed, on your advise, I will crosscheck again, thanks for the inputs
regards
jewel
