Transfer of house property
K.r.Prasnnna
(Querist) 21 October 2013
This query is : Resolved
I have a Flat in Pune, Maharashtra which is occupied by my married daughter.Currently in the Sale Deed my daughter only is the nominee. But now i wish to transfer the said flat to my daughter. Is making a WILL stating the above will solve the matter or I have to transfer by way of a GIFT DEED?? Also what will be the Stamp duty and LBT % applicability for the same? Which is better, safest and cheapest mode to transfer the above said Flat, kindly suggest at the earliest.
ajay sethi
(Expert) 21 October 2013
will should suffice . for gift deed in maharashtra it attracts 2%stamp duty on market value of flat . further gift deed needs to be regd
Anirudh
(Expert) 21 October 2013
Dear Mr. Prasanna, please make a WILL in favour of your daughter and have it REGISTERED. This is not only highly safe but also the cheapest method to ensure that the property goes to your daughter. But, remember, though registration of WILL is not compulsory, but Registration is highly advisable. It will remove unnecessary doubts, and challenges in future.
R.V.RAO
(Expert) 04 March 2014
A Registered will in favor of daughter is best and cheap solution for bestowing the father'property on her, and well advised by LCIexperts.
