How to transfer property in father's name?
Nilesh
(Querist) 13 November 2011
This query is : Resolved
Resp. Sir / Friends
We are joint family in 1997 and at that time we had acquire one property with housing loan in the name of middle brother due to he was working in Ltd Company only loan will be given to him in family members. Actually, all funds were jointly bared by father, elder brother, younger brother & middle brother. The said property is registered in the name of Middle Brother. Now, the loan is repaid & No Due is on property ok & we all brothers with mutual understanding want to transfer the said property in the name of father.
Friends, which is the best way to this transaction? Pl reply with esteemed opiniion
Devajyoti Barman
(Expert) 13 November 2011
Execute and register a deed of gift.
The stamp duty is very nominal for gift between the family members.
Sailesh Kumar Shah
(Expert) 13 November 2011
Execute and register a deed of gift.
In UP stamp duty for gift is equal for all.
Chanchal Nag Chowdhury
(Expert) 13 November 2011
Deed of Gift from middle brother to father is the only option.
Nilesh
(Querist) 13 November 2011
Thanks for fast feedback hope the gift deed will eligible to all registration procedure in legal department
Once thxs friends
NILESH H GAJJAR
Rajeev Kumar
(Expert) 13 November 2011
Yes, i do agree with experts
ajay sethi
(Expert) 13 November 2011
gift deed is best option . have gift deed duly stamped and registered
prabhakar singh
(Expert) 13 November 2011
so GIFT is the unanimous resolution.
Sri Vijayan.A
(Expert) 14 November 2011
The other name of the deed is Settlement deed.
The stamp duty and registration fee are low at a concessional rate.
