Gift deed vs sale deed
aditya
(Querist) 09 February 2017
This query is : Resolved
i am 19 yrs old and my grandmother wants to transfer ancestral agricultural land into my name directly without giving it to my father.
so i want to know
** which one is cheper
** what are the stamp duty and registration charges in chhattisgarh.
**and appox. difference in gift and sale deed
Kumar Doab
(Expert) 09 February 2017
It is believed that you are all, Hindu.
Confirm!
Kumar Doab
(Expert) 09 February 2017
Property from mother's side is not ancestral.
First of all let the mutation record with all link documents be shown to a very able counsel specializing in revenue/property/civil matters to confirm how did the property devolve to Grandmother and if the title is in name of Grandmother only.
A Hindu woman can dispose her self acquired/absolute property in anyone's favor in her life time by a valid deed.
Registered Gift deed should invite less charges.
Kumar Doab
(Expert) 09 February 2017
Stamp duty, registration charges are state subject and current rates can be inquired from SRO/Registering Authority.
The state might have exempted in case of Gift in relation under list of blood relations/relatives.
aditya
(Querist) 10 February 2017
Thank you sir Mr Kumar doab and usha kapoor for answering.
And sir grandmother recently got the title in her name since all my relatives I.e my 2 aunts,my uncle and even my father gave noc to the procedure of transferring title to my grandmother,
by the way sir will it be treated as self acquired property
aditya
(Querist) 10 February 2017
Again thanks inadvance
rajeev sharma
(Expert) 10 February 2017
First of all on the basis of NOC get the land mutated in favour of your grand mother . Gift or sale both are transfer of property and attract the same stamp duty. Only difference is that in case of sale you will have to show payment of sale consideration from your income where as the gift is executed without any consideration and of love and affection
Adv. Yogen Kakade
(Expert) 10 February 2017
Why to execute a sale deed when you have an option of Gift deed.
Rajendra K Goyal
(Expert) 10 February 2017
All the documents need to be referred, show all related documents and discuss in detail with local lawyer.
As Stamp duty / fee differ from state to state, discuss / consult local registrar office / local lawyer.
Kumar Doab
(Expert) 10 February 2017
Thanks for agreeing Ms. Usha Kapoor.
Kumar Doab
(Expert) 10 February 2017
Your 1st and 2nd last posts point to different situation.
Who was actual owner of the property and then how did it devolve (say actual owner dying without leaving a valid WILL) to last owner?
The said NOC may not be necessarily equivalent to relinquishment.
Pots full facts and chain of events.
aditya
(Querist) 11 February 2017
Hiii I am 22 old student from CHHATTISGARH state
My grandfather has 40 acre agriculture land
MY grandfather has 4 Children (My father ,my uncle and two daughters)
My grandfather gives 12.5 acres to each son means Total 25 Acres out of 40 Acres
MY GrandFather died in 2009 , he has no wills Then after MY uncle also died in 2010 he has also no wills
Recently through natural producer the 15 Acres Left property transfer to my grandmother name The property around 15 Acre Agriculture Land .
so now My Grandmother wanted to transfer the whole property (15 acres) to his Grandson(me) MY 2 questions are-
1} Which property Transfer cost cheaper GIFT or any other way like directly buys from my grandmother OR Anyother way is better??? HOW to much stamp duty and registertion charge differnce and what are advantages and disadvantages in terms of money and Safety ??
2} Which can not Challenge in court by my Uncle-wife (if it is possible)??
Kumar Doab
(Expert) 11 February 2017
In your 1st post, yesterday, you were 19 years old.
In your last post, today, you are 22 years old.
It could be an error.
Regarding our query on: total charges/duty for Gift/sale deed, in our state.
As already posted “Stamp duty, registration charges are state subject and current rates can be inquired from SRO/Registering Authority.
The state might have exempted in case of Gift in relation under list of blood relations/relatives.”
Even deed writer can let you know.
Check locally, if relation Paternal Grandmother-Grandson is covered under list of relation from exemption from duty/charges in your state.
Kumar Doab
(Expert) 11 February 2017
What is this Natural producer?
Regret: Could not understand it.
The said NOC may not be necessarily equivalent to release/relinquishment/transfer.
You may check it with our own counsel, at your location.
If Grandmother has indeed become owner on the strength of NOC from other legal heirs then obtain certified copy of old and latest mutation records and all link documents.
The latest entry might be showing title in the name of Grandmother.
The owner can gift the immovable property by registered gift deed. Valid gift deed confers title/ownership with immediate effect. Submit copy of gift deed to the revenue office/official under whose jurisdiction property falls to record ownership in mutation records (say: Intkaal) and obtain latest copy of mutation record (say Fard) showing transfer in your name.
Gift is complete when gifted by donor and accepted by donee. You may take possession of gifted property.
Gift is without monetary consideration.
Since you are a student and probably without income, gift deed can suit you.
Charges to be incurred on gift deed could be less than sale deed.
Inquire locally from SRO/Registering Authority.
Kumar Doab
(Expert) 11 February 2017
A gift deed can be contested and can be revoked by court alone, if court is convinced that gift was extracted under coercion, threat……………….
You have not clarified the property in the hands of grandfather was self acquired or ancestral and by which valid/registered deed grandfather gave 12.5 acres to each son?
Believing that property in the hands of grandfather was self acquired, the balance 25acres should be equally divided between ClassI legal heirs of Grandfather i.e; Mother, 1 Wife, 2 sons, 2 daughters.
If mother was predeceased then 25 acres should be divided between: 1Wife, 2 sons, and 2 daughters… i.e; 5acres each.
If the said NOC is not equivalent to release/relinquishment/transfer……………………..then legal heirs of deceased uncle can rise and contest it.
If the gift deed by grandmother is from 5acres only, then it being her share, there should not be questions (provided that property in the hands of grandfather was self acquired and not ancestral).
What is this Natural producer?
Regret: Could not understand it.
On all points, you may inquire from your own local counsel specializing in revenue/property/civil matters, O/o SRO/Registering Authority and show all documents pertaining to the property, before you decide..............and act after obtaining proper legal opinion.
This can help to take right decision and avoid future complications and/or litigation that you apprehend from say wife of your uncle.
Rajendra K Goyal
(Expert) 11 February 2017
Is it the same case:
http://www.lawyersclubindia.com/experts/distribution-of-ancestral-property-556571.asp
aditya
(Querist) 12 February 2017
Your answers are appreciated sir Mr Kumar doab and other respectfull experts.
aditya
(Querist) 12 February 2017
Your answers are appreciated sir Mr Kumar doab and other respectfull experts.
