Joint ownership
Varsha
(Querist) 22 June 2012
This query is : Resolved
My father had purchased land in 1970. Now he wants me to include my name in the Property ownership to create our joint ownership.
Please let me know;
a) Such inclusion of joint ownership post purchase is allowed?
b) How much registration and stamp duty will be levied?
c) Whether I have to pay regn fees n stamp duty as a new purchaser or concession will be allowed.
d) Any other process is available.
Thanks
Varsha
A V Vishal
(Expert) 22 June 2012
a) Such inclusion of joint ownership post purchase is allowed?
Ans, Yes
b) How much registration and stamp duty will be levied?
Ans, You need to register a gift deed and the Stamp duty is minimal.
c) Whether I have to pay regn fees n stamp duty as a new purchaser or concession will be allowed.
Ans. Any one of you can pay.
PS: Stamp duty varies from state to state, contact local registration office.
