transfer of plot
nikhil kumar
(Querist) 03 October 2010
This query is : Resolved
can a father transfer his plot to married daughter without consideration and what procedure to be followed please tell immediately
if gift deed is executed then gift will be taxable
Devajyoti Barman
(Expert) 03 October 2010
Yes by way of gift deed for immediate effect , otherwise executing a Will is another option.
A V Vishal
(Expert) 03 October 2010
Assuming it is a self acquired plot, he can transfer it to his daughter by way of a gift deed duly registered with the registering authority. Stamp duty & registration charges vary from state to state.
adv. rajeev ( rajoo )
(Expert) 03 October 2010
gift deed is OK if it is his self acquired property. If it is ancestral he cannot.
Kiran Kumar
(Expert) 03 October 2010
I agree with Mr, Barman and Mr. Vishal
R.Ranganathan
(Expert) 03 October 2010
Yes. Father can execute a Gift/Settlement Deed in favour of his daughter if it is a self acquired property. This will have immediate effect of transfer. In case of Will, transfer of property will take place at a later date.
nikhil kumar
(Querist) 03 October 2010
sir where we have to go for this if we resides in delhi
Sri Vijayan.A
(Expert) 04 October 2010
1.Settlement deed in consideration of love and affection is the right choice.
2.Deed of gift is the next choice
Both shall have concession in stamp duty and registration fee.
3.Will is not a good choice. It does not requier stamp duty, registration fee. In fact it does notrequire registration. Every thing is easy for the author of the WILL. It is tough for the beneficiary to acquire the property while probating the WILL.
So better to have a settlement deed and registered.
bhupender sharma
(Expert) 05 October 2010
There is no bar inthe Hindu succession Act.
