calvin hobbes (PM) 04 October 2017
calvin hobbes (PM) 07 October 2017
Master Warrior (AOR) 08 October 2017
A) The two transactions CAN happen but can also result in an audit and tax penalties/fines since it is not actually a gift but a sale. Same situation when it is registered, it could be looked at as what it is, avoidance of tax.
B) If there's a loan on the property you won't be able to transfer it without the lender's consent (which likely won't be given, unless both names are on the loan then maybe). If it's done this way there COULD be an argument that the only "value" of consideration is the difference between property value and loan amount and only that portion be subject to transfer tax.
You've mentioned capital gains tax, but forgot about the registry tax/stamp duties. If there's separate transactions that's different but two close transactions? Might be worth paying the tax/duties.
calvin hobbes (PM) 08 October 2017
P. Venu (Advocate) 10 May 2018
The author's response is troubling; his response suggests that he is seeking particular information without disclosing even primary information as to the complete particulars as to legal heirs. Your subsequent explanation only confuses the matters. Why should the brother who relinquishes his property gift money as well? So also, how could there be a registered gift deed of money, with no property involved?