Re: Donation/gift of property. (Family Affair)
Kartik dhar
(Querist) 05 December 2010
This query is : Resolved
Hello Sir,
I am writing this email on behalf of my father-in-law and mother -in-law who wish to donate their 1BHK flat residential and one shop in a commercial establishment situated in Mumbai city to myself (Son-in-law) and my wife ( doner's daughter).
1. Kindly let us know what are the documentation required in order to ease the donation and transfer of both the properties in my and my wife's name.
2. Also, my wife wants to gift me a second hand swift car. Does this require any kind of gift deed made or donation deed made?
3. As for the property is concerned, does the donation/gift deed has to be registered?
Awaiting your reply
Devajyoti Barman
(Expert) 05 December 2010
1.Nohing except a deed of gift.
2.yes
3.yes
adv. rajeev ( rajoo )
(Expert) 06 December 2010
Gift is compulsorily registrable document. For car it does not require.
s.subramanian
(Expert) 06 December 2010
With regard to the immovable property take a gift deed. For the car,you can take a deed of gift which does not require registration. You can use this for tax and other purposes to show that it is only a gift and not your purchase.
Kartik dhar
(Querist) 06 December 2010
As far as I understand.... Deed of gift is required for all three assets. Viz. House, shop and car. But only car's gift of deed does not require's registration.
What about immovable properties like house and shop? Is it taxable? What else has to be paid, like stamp duty, in order to complete the transaction?
I appreciate all your expertise!
DEFENSE ADVOCATE.-firmaction@g
(Expert) 06 December 2010
It depends on the type of ownership such as co op society or ownership flat similarly the shop is ownership or rented / leased.
Uma parameswaran
(Expert) 06 December 2010
About the stamp duty you can inquire with local Advocates.
Khaleel Ahmed Mohammed
(Expert) 06 December 2010
Gift of immovable property should be given through registered deed.
The car can be transfered through form 29 and 30 of RTA .
Kartik dhar
(Querist) 07 December 2010
Thankyou for your expert advices...
The Donor is not in the condition to travel. She had her knee replacement operation done.
Can the registration be done by me/donee?
Thanks
Kartik dhar
(Querist) 07 December 2010
Mr.Karji, can you please explain in brief your expression: "no, the goner can give GPA to any person"
kindest regards.
Kartik dhar
(Querist) 07 December 2010
I have enquired with the local solicitors and they suggested me that I will have to pay the stamp duty if i have to register the gift deed.
1. What if the doner provides me with the GPA, General Power of Attorney to both the properties??
2. Will that save me from the hassle to pay the stamp duty??
3. If yes, then does GPA requires to be registered with stamp duty charges?
4. Can the GPA be revoked by issuer in future?
Much appreciated.
Kirti Kar Tripathi
(Expert) 07 December 2010
registration cannot be done by Donee on behalf of doner in his favour, Doner has to appoint any other person as his power of attorney for this purpose.
R.Ramachandran
(Expert) 07 December 2010
Dear Mr. Rohit,
Let me give you various scenarios: (Assuming your parents-in-laws are not having any one else except your wife as their only daughter)
1. Even if they do not gift it now, after their demise, the property would go to your wife being the legal heir. (In that case no stamp duty would be involved.)
2. The same will be the position if they leave WILL in your favour and your wife's favour. This will become effective after their demise. (no stamp duty involved).
3. If they make a gift the property now, the same has to be registered. Otherwise it has no legal effect. For getting the Gift Deed Registered, you have to pay stamp duty on the value of the property. (Which you want to avoid and it is not possible to avoid in the case of Gift.)
4. If GPA is given for execution of the GIFT Deed, all that it means that instead of your father-in-law and mother-in-law, the person having the GPA will be executing the Gift Deed on their behalf. (Executing the Gift Deed means incurring the stamp duty as indicated in point 3 above. Which you want to avoid, but which you cannot avoid).
5. Keeping the GPA but not executing the Gift Deed (to avoid Stamp Duty). After the demise of your in-laws, the GPA would be of no use, since the person holding the GPA cannot make use of it and therefore will not be in a position to execute the Gift Deed. This will result in Situation 1 above.
NOW YOU HAVE COME A FULL CIRCLE FROM POINT 1 TO POINT 1.
Examine the situation, and make a wise choice.
[In case your in-laws have any other children other than their daughter (i.e. your wife) then in case of situation 1, all the legal heirs will have a claim for their share in the properties of your in-laws.)
Sri Vijayan.A
(Expert) 07 December 2010
1. To reduce expenditure on stamp duty and registration u can have settlement deed executed by ur in laws in favour of ur wife, but is compulsorily registrable.
2. if ur m.i.l cd not move to registrar office, u can apply to the registrar stating the inability on medical ground, then the registrar shall register the deed in privte residence on payment of a nominal fee which may be equivalent to TA to the registrar.
3. If ur wife is the only heir to them, u can leave it as it is. then later ur wife shall acquire the property after the life time of ur inlaws.
Kartik dhar
(Querist) 09 December 2010
Will the POA assigned to any other person like an advocate has to be registered to execute the registration of Deed of Gift?
Kartik dhar
(Querist) 13 December 2010
so, now the POA has to be registered as well.
My problem is that its almost 4 months since the gift deed was executed. The doner is out of country for her knee replacement operation. So she can only give the POA to any loyal friend to assist in d registration.
Please advise how to work around this, wothout calling for any penalty charges, as its almost 4 months since d gift deed was made.
Much appreciated
