The act of gifting property to a relative in India is a common practice rooted in cultural values, familial ties, and a sense of generosity. However, beyond the emotional aspects, it is crucial to understand the legal implications, particularly in relation to stamp duty. This article delves into the question: Do you have to pay stamp duty to gift your property to a relative in India? We will explore the nuances of stamp duty regulations, exemptions, and the legal considerations involved in the process.… Read more
Components and details in a deed of gift!
Tags: Gift Deed
A gift deed is a criminal document that may be used to freely transfer mobile or immovable property to friends, family, and other people. When the switch no longer seeks money or any form of payment in return, the file is regarded as authentic. According to Section 122 of the Transfer of Property Act, 1882, the term “present” refers to a transfer of any current movable or immovable property performed willingly and as a right by a donor to the donee. Furthermore, the statute mandates that the file be registered following the Indian Registration Act of 1908.… Read more
Everything you need to know concerning Gift Deed
Tags: Gift DeedReal Estate
A Gift Deed is a legal instrument that permits the original property owner to willingly consider giving their property as a gift to another individual, trust, or organization. The presence of this document aims to alleviate conflicts that may develop as a result of inheritance claims. We have elaborated on the judicial process and the main provisions of the deed in this blog.… Read more
