Samueallss (abc) 12 July 2011

Transfer of property(partial)

Hi,

There is a land property of 1.5 Guntha in my brother's name in pune city. Now he wants to transfer half of the same in my name. Can anybody suggest the correct way to transfer the same so that legal ownership for half of that property would be in my name and there would not be any issue in future about the same.

Waiting for your valuable response. Thanks in advance.

Samueall

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4 Replies

Raghav Sood (Lawyer) 12 July 2011

by selling half share out the property to you through registered sale deed

Samueallss (abc) 12 July 2011

Thanks...............but it will cost me 5% stamp duty. Is there any other way where I can save this cost and the purpose of transfer will fulfiled.

Samueall

Raghav Sood (Lawyer) 12 July 2011

"""and there would not be any issue in future about the same"""".

5% stamp duty is small price to have no issues in future

Anup Gupta (Advocate & Corporate Consultant) 15 July 2011

Your brother can transfer the said property in your name by way of “Gift”. But you and your brother have to fulfill all the ingredient of Section 122 and 123 of The Transfer of Property Act, 1882 and Section 17 of the Registration Act.