Transfer of property between father and son

Querist : Anonymous (Querist) 07 December 2011 This query is : Resolved
my father has three son and two daughter he would like to distribute his property between all son, what types of agreement is to be created between father and his son for transfer of property, is the gift deed or will, and how much stamp duty and registration fees of such agreement...pls guide

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livingston_k (Expert) 08 December 2011
Whether it is self acquired property? if so make settlement deed. from which state. it differ from state to state.

Devajyoti Barman (Expert) 08 December 2011
AS family deed of settlement may suit the purpose.

Advocate. Arunagiri (Expert) 08 December 2011
WILL come into operation only after the death of the person.

Settlement deed will have a immediate effect.

You can choose.

Raj Kumar Makkad (Expert) 09 December 2011
It shall be better to have a settlement deed duly registered so that no future dispute may arise.

Querist : Anonymous (Querist) 09 December 2011
on deed of settlement we have to pay any consideration to my father against the property,in future can i sale property which on my name after making settlement deed whether all paper of that property will be on my name, why gift deed is not to be created in this case and whether deed of settlement duly stamp and registered is compulsory or not. pls clarify the whole doubt,............thank you

Sailesh Kumar Shah (Expert) 12 December 2011
there is no need to payment in settlement deed. expenses for Settlement deed is lesser.

Querist : Anonymous (Querist) 12 December 2011
shah sir, i am still not clear about registration and stamp duty fees whether we have to be pay it compulsory or not. pls clarify.........thank you

Advocate. Arunagiri (Expert) 12 December 2011
consideration is not needed in a Settlement deed.

Even then the stamp duty has to be paid while registering the property.

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