Clarification
Ayesha1972
(Querist) 04 August 2012
This query is : Resolved
Thank you for replying to my earlier query
http://www.lawyersclubindia.com/experts/Gift-deed-327791.asp#.UBywgWthiK0
In continuation to the same ,the existing property which the mother intends gifting to one child is at present inhabited by other siblings becoz the donee is a NRI....and does not intend evicting the siblings ,its a measure being taken to safegaurd the property against unscrupulous intentions of some of the siblings.can it be challenged on the grounds that they r presently living there so they can stake a claim in the said property??
Also how much tax needs to be paid to execute such a deed.and is there any mumbai based lawyer who can help me,plz send me ure ctc number n i will get in touch with u ASAP.
Thanks again,appreciate the advice
ajay sethi
(Expert) 04 August 2012
if mother is owner of property she cna bequeath it to whom soever she desires . the fact that your brother or sister are presently staying in said property does not give them any ownership rights as property belongs to your mother .
in respect of gift deed stamp duty is 2%of market value of property as per ready reckoner rates in mumbai
have the gift deed duly regd
prabhakar singh
(Expert) 04 August 2012
As it is a case of HIBBA no need of writing or registration legally required.Only writing and registering a memorandum can serve the purpose where registration fees alone shall be payable.
Mr. Sethi himself is a Mumbai based lawyer.
Without possession several problems may arise in future which can not be predicted just now.HIBBA would be without possession hence incomplete.
