Gift Deed

Pradeep Kr (Querist) 06 May 2009 This query is : Resolved
We have a flat in Delhi jointly owned by me and my father. Now my father wants to gift his share on my name. Please let me know what is the process for the same and how stamp duty will be calculated if required on this gift deed.
Is there any legal conplication involved in future if I opt gift for this transfer.

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n.k.sarin (Expert) 06 May 2009
Mr.Pradeep,If your father wants to gift his share on your name,he can make a gift deed and can transfer the same to you.As far as court fees is concerned the stamp duty will be calculated at the market value of the share of your father. There is no legal complication .

PRAKASHCHANDRA MARU (Expert) 06 May 2009
i agree with the opinion of mr n.k.sarin

sanjay singh thakur (Expert) 07 May 2009
Dear Pradeep
Mr. N.K.Sarin has rightly replied to your query and at the same time its the best solution in respect of your query.

sanjeev murthy desai (Expert) 07 May 2009
Dear Pradeep,

You can have Gift Deed or Release Deed. Both instruments are confirming that the good title of your property.

adv. rajeev ( rajoo ) (Expert) 07 May 2009
Mr. Sarin has advised u rightly. U have got another way i.e., u can have regd., rights relinquish deed from ur father. It costs minimum, On the gift deed u will have to pay more stamp duty because it amounts to transfer

arunprakaash.m. (Expert) 07 May 2009
you can get release deed from your father to transfer his share in the said flat.

Pradeep Kr (Querist) 07 May 2009
Thank very much to all of you for your valuable suggestion. Now please advise from where I can get the same registered and how charges will be calculated. This property is a DDA Flat in Vasant Kunj, New Delhi

Pradeep Kr (Querist) 07 May 2009
I respect Mr Vadrali suggestion about relinquish deed but if I am not wrong this deed can be made only if donor is nopt alive. If this can also work, please suggest from where this can be done. Can I get a concern person who is involve in this job

Y V Vishweshwar Rao (Expert) 07 May 2009
You can contact any local advocate and he will assist you in this matter ,
Delhi Advocates on this Wbsite -Lawyers Search Delhi .

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