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Mannu (none)     06 January 2013

Selling or gifting an intangible property

My mother has a property in Gurgaon, Haryana which she wants to transfer over to my name only. 

The questions I have is:

1. What is the process, fees and timeline in each case?

2. What are the pros and cons for selling and gifting to a blood relation?

3. Does one have to be present in Gurgaon to execute the papers or can it be done through mail?

Thanks 



Learning

 5 Replies

binay (advocate)     06 January 2013

consult an advocate and go for will
1 Like

Advocate Vishnu (Advocate)     07 January 2013

Your mother will have to execute a gift deed in your favour by paying the necessary stamp duty charges applicable in Haryana.

The process is simple. your mother has to go to the respective sub registrar's office under which the property is locates and execute a gift deed. The papers will be returned to you in two to three workingdays.

You cannot execute any deeds concerning immovable property over mail as all transactions related to immovable property is to be compulsarily registered and has to be done in person only.

Mannu (none)     08 January 2013

Thank you for the kind advice.

Does one require help from professional for the language that will go in the gift deed other than the property address? If yes what type of professionals would that be?

Just to clarify, does the person in favor of have to be present as well? 

Advocate Vishnu (Advocate)     09 January 2013

Pl go to the respective sub registrar's office and there you will find document writers . Ask them to draft a gift deed by mentioning the correct details of the scheudle property. Read them your self for typo errors and take an advocate's opinion on the veracity of the contents of the deed. Only the person who is the true owner of the property will have to be present to execute a gift deed along with two identifying witnessess.Good luck.

Mannu (none)     12 January 2013

Thank you very much.


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