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S K SINHA (Director)     28 January 2022

Does gift of flat by daughter to father transfers ownership rights also.

I purchased a flat in NAVI Mumbai; part payment was made by my daughter by raising a loan. Flat registered in my daughter’s and my wife’s name. Now loan is fully repaid. I need to get this flat transferred to my and my wife’s name. If my daughter gives this flat to me as gift, will it serve my purpose. Gift deed being cheaper than registration and stamp duty. If wife and myself want to dispose off the flat can we do it on on the strength of this gift deed.

What are other ways for getting a solution.

 



 4 Replies

PALLABH HALDAR   28 January 2022

She needs to give a NOC first in presence of two independent witnesses that she doesn’t want any kind of right on the said property and sign a gift deed in the favour of mother/father.And get the Gift Deed registered paying stamp duty.

Advocate Bhartesh goyal (advocate)     29 January 2022

Yes , your daughter can transfer the property to you by way of registered  gift deed.Transfer of property by way of gift deed is best option for you else you can get transferred the property through sale fees but it will cost much more than gift deed.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     29 January 2022

There is stamp duty for gift deed. But the Society cannot charge transfer premium as it is transfer to a relative.

Aryan Raj   29 January 2022

Dear Queriest,

Yes she can do it,  a son or daughter can transfer their immovable property to their father by a gift deed under section 122 of the Transfer of Property Act, 1882. A gift, in the law of property, is the voluntary transfer of property from one person (the donor) to another (the donee) without consideration.

Regards,

Aryan Raj 


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