Gpa in blood relation
Sarita Pandey
(Querist) 27 March 2024
This query is : Resolved
I am looking after a property that I had taken in my mother's name, out of affection, in 2005
I m in possession n managing it since then.
Now mother being old age she is asking me to get it back.
Which is best possible way? Gift costs a lots of stamp duty.
Is it valid if i get GPA ?
Will i be able to sell that property later?
Then that GPA would still be Valid to Sell, years later, when she won't be any longer with us?
Do I need to get a Will also registered in my favour?
If there Is no GPA or if there is GPA, in both scenarios, Will I need to take any Noc from my brothers later on, when using that Will to make property in my name?
Isaac Gabriel
(Expert) 27 March 2024
Since it is in the name of your mother, you can very well get it gifted which requires nominal tax.
kavksatyanarayana
(Expert) 27 March 2024
As the property is in your mother's name she can gift(settlement) deed in your favour. If will is executed it may be cancelled or modified later. GPA is not advisable as after your mother it is not valid.
T. Kalaiselvan, Advocate
(Expert) 28 March 2024
The route through GPA or Will is not advisable because the enforcement will not be possible or an easy process after your mother's lifetime.
