Transfer of Property from WILL to Private Family


If residential properties of an Individual is transferred from his WILL to the Private Family Trust of the same family will it attract stamp duty or registration cost..

OR the property will be transferred to Private Family Trust nd only mutation fees will be applicable..

For e.g. Mr. A in his WILL mentions that all his physical properties will be transferred to his private family trust after his lifetime.. In this case will attract fresh registration cost or the property will be transferred & only mutation fees be applicable..
 
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Advocate

The will need to be probated, and the same family memembers will have the property registered with their names with the requisite fee and stamp duty.. You may retain the trust name as per your will and pleasure.

 
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Advocate

I am of the same view with Isaac Gabriel.

 
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Lawyer

Who is the executant of subject will ?

Whether he /she is alive or died ? 

What is the property and where it is located ?

Who are the Trustees ? Whether beneficiary is a member of the Trust or not?

Why the property is proposed to be transferred to Trust Account ?

It is advisable to consult and engage a local prudent lawyer for appreciation of facts/ documents, professional guidance and necessary proceeding.

 
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Retired Manager

The question of transfer of property through Will arises only when the Owner expired and in the Will bequeathed the property to a Trust. In such a case, Will need to be probated. Mutation charges shall be quite minimal which need to be paid to the Municipality for change of name of the owner to the Trust.

 
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