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Pooja Arora (Accounts)     14 June 2017

Gift deed for immovable property

This is related to a property which belongs to my husband,mother in law,sister in law and brother in law.
Everyone has 25% sharr.Now basically all the 3 are gifting their share to me and my husband so that we become equal owners.I
My brother in law will gift to my husband making him 50% share owner and my sisiter in law will gift to my mother in law and she will gift me her 50% share.
My questions are
1.whether all these these gift deeds be registered in the sub registrar office on the same day???
2.How much time will it take to get the registered papers?


Learning

 13 Replies

shrenik (lawyer)     14 June 2017

Its not necesary to register all deeds at dat same day Whats ur second question ? U can cantact me on 9825099410
1 Like

Azhagananth (Lawyer)     14 June 2017

Production of PPBs & TDs at the time of registration and to get entries made : Now, production of pattadar passbooks and title deeds is made compulsory. Parties shall ensure that relevant entries are made by the Registering Officer in these books regarding th e transaction.

1. So it is not possible to registrar all 3 Gift deed at same day.

2. 3 days to 3 months depends upon your style of work.

 
1 Like

Firdosh Kassam (Karachiwala) (ADVOCATE & SOLICITOR firdoshkassam@hotmail.com)     14 June 2017

Gift Deed of immovable property requires to be Registered and Stamp Duty of 2% is to be paid based on the Ready Reckoner value. The donor and the donee have to appear before the Sub-Registrar with their PAN cards, Aadhar Cards and Passport copies, if available.The proper descripttion of the property including the CTS number and carpet area with proper location should be mentioned in the Schedule of the Gift Deed.

All the three gifts can be Registered on the same day and depending on the load on the Registrar the Registered Gift Deeds will be available either on the same day or the next day. The sequence should be maintained, that is, the first Gift Deed should be from your sister-in-law to your mother-in-law and another from your mother-in-law to you.

1 Like

Advocate Bhartesh goyal (advocate)     14 June 2017

I concur the advice of Mr. Firdosh Kassam
1 Like

Pooja Arora (Accounts)     14 June 2017

Firdosh Sir,
Gift deed stamp duty in Karnataka is 1500Rs irrespective of the property value.
You have mentioned 2%..please can you clarify.

Kumar Doab (FIN)     14 June 2017

I concur with Mr. Firdosh Kassam (Karachiwala), Mr. Bhartesh Goyal.

Kumar Doab (FIN)     14 June 2017

Regarding duty/fee/charges check from O/o Registering Authority.

It might be having relations covered in list of relatives and can relate your case with it and inform you.

It might also be available on website of Authority.

Kumar Doab (FIN)     14 June 2017

Apparently you seem to have already planned to save on duty/fee/charges.

1 Like

dr g balakrishnan (advocate/counsel supreme court)     14 June 2017

obviously it is single property that is to be gifted, so all of them together commonly prepare the gift deed together and there will be one registration wherein if they want to specify your and your husband's share inthat property they can mention , if not , both you and your husband can now commonly take, that gift deed, and the deed lapses in whoecer survives the other completely provided that property is self earned if not it will fall into intestate even if there is some so called gift deed, in fact when intestate then shares hall be per succession Act only mdm. tks After all  remember property laws are very interesting and very complicated for it falls into civil laws read in with common law of the personsinvolved. 

1 Like

dr g balakrishnan (advocate/counsel supreme court)     14 June 2017

there is no easy solution in properties legislation, it also attracts income tax law too. after all civil laws are man made by the so called law makers they make very funny Acts by statutes in parliament but they meddle in the smooth life of citizens , that that way Art 31 was included under fundamental rights not to be touched by these parliamentarians but they messed that Article  by nre Art 300A  - see Art 13(1) never allows on fundamental rights parliament to touch when r/w  Art 368, but parliamentarians being scoundrels they messed up like threads crossing wrongly with in that makes  easing the thread becomes more and more complicated. so parliament unnecessarily meddles in generalpeaceful life of man , any way democracy in india is in cross roads. 

1 Like

dr g balakrishnan (advocate/counsel supreme court)     14 June 2017

apart from duty you need to know what use is the gift deed. that is more vital than the small duty you pay .

1 Like

dr g balakrishnan (advocate/counsel supreme court)     14 June 2017

mostly same day when you register the gift deed.the registration is done, that is the answer to your question.

1 Like

Kumar Doab (FIN)     14 June 2017

Dear LCI Querist @ Ms. Pooja Arora,

You may go thru the depth and essence of Learned senior Expert and thorough gentleman dr g balakrishnan 

 

 

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