About gift deed
Raja
(Querist) 18 July 2015
This query is : Resolved
Hi All,
I stay in Mumbai and have 3ekar land at Ratnagiri on my Grandma Name and her 3 Daughters. One daughter is my mom. It means there are 4 legal heirs for that lands (three daughters and their mummy which is my Grandma) All we are staying in Mumbai.
And from my childhood I am staying with my Grandma, Infact, I am taking care of her for each and everything. Now, She willingly ready to transfer that land property on my name.
How is that possible?
Do I want to make Gift Deed or Will Certificate?
If gift Deed then it should be a Notary or Registered, Which one is the best?
Or which one is the better? Gift Deed or Will Certificate?
Anirudh
(Expert) 18 July 2015
You have to get a proper WILL prepared, attested by two witnesses (who should be sufficiently young, so that they will be in a position to come forward and give evidence before the Court when the WILL needs to be probated.)
The WILL needs to be registered. (Though registration is not compulsory, but getting it Registered will be highly helpful in future as the chance for its challenge will be very less and even if there is a Challenge, it will be easy to defend the same successfully, compared to an unregistered WILL).
The STAMP DUTY for Registration of the WILL is very very nominal and less.
Rajendra K Goyal
(Expert) 18 July 2015
If you want to pay stamp duty and want immediate transfer of land and negligible challenge in future may go for registered gift deed.
Otherwise a perfect advise from the expert Anirudh to which agree with.
Raja
(Querist) 18 July 2015
But Sir, that land property is in Ratnagiri and i and my Grandma staying in mumbai,. So where do I do the procedure of registration of will? In Mumabi Or in Ratnagiri.
As she is 85yrs old and not able to travel. Is it OK if I am doing registered that will in Mumbai?
Or it compulsory to do that in Ratnagiri where land property is?
J K Agrawal
(Expert) 18 July 2015
Gift Deed may be some costly but it is advisable. Wills are always under dispute and you may have to prove it before a court before obtaining actual benefit.
You are to register gift deed at place where property situate.
Anirudh
(Expert) 18 July 2015
In the given situation, Registered WILL would be highly recommended for the following reasons:
1. Even if it is a registered GIFT Deed (by paying huge stamp duty) somebody can challenge the same by questioning the mental soundness of the grandmother (as she is stated to be 85 years old!). For giving GIFT DEED she has to travel to the place where the property is situate. That the querist says is very difficult and she may not be able to travel.
2. However, the WILL can be got registered in the place where she is living in Mumbai. In fact, apart from taking two young witnesses as already suggested, A Doctor should also be called to certify the mental soundness of the grand mother. Otherwise the WILL can be challenged. One more thing should be kept in mind by the querist. As the grand mother may not be knowing English, it has to be specifically indicated in the WILL by her that the contents of the WILL was explained to her in vernacular (Marati) and that she understood the same and she states that the contents are correct as per her wish.
In any case, the querist has to approach a lawyer to get the WILL neatly drafted so avoid complications in future.
Kumar Doab
(Expert) 18 July 2015
At her age Gift deed shall be better.
You can also explore sale thru POA.
Registered WILL is also an option.
Dr J C Vashista
(Expert) 18 July 2015
I will recommend and advise to get a "GIFT DEED" registered where the property is situated, i.e., Ratnagiri.
Raja
(Querist) 19 July 2015
Respected All Of You, Thank You Soooooo Much for Great Advice.
I would like to know one more thing is that, as 3ekar land is in Ratnagiri then an approximately how much stam duty I have to pay, if I am doing that registration process
In Ratnagiri.
And Kumar Doab Sir, I do not want to sale that land property and POA will work till my Grandma is alive. After her there will be no use of that POA. Am I right if I am not wrong?
Kumar Doab
(Expert) 19 July 2015
Visit the SRO and ask about stamp duty for various options that you might have in mind.
You have posted in your first post:
"I stay in Mumbai and have 3ekar land at Ratnagiri on my Grandma Name and her 3 Daughters."
The land is jointly held in 4 names.Your grandmother can not go beyond her share i.e.1/4th. If the share is properly demarcated then it is good.
You are right about POA.
T. Kalaiselvan, Advocate
(Expert) 19 July 2015
I agree with the opinions and suggestions of experts above. In my opinion too a registered gift deed in your favor will be a better choice. Please bear it in mind that the grandma can gift only her 1/4th share in the property.
Raja
(Querist) 20 July 2015
Thanks A Lot to All Of You. God Bless to All Of You. It's really Great Advice provided by All Of You.
Thank You Once Again.
Biswanath Roy
(Expert) 20 July 2015
Gift Deed is better and safe although you shall have to bear stamp duty upon the valuation of the gifted property and Registration charges in connection.
M/s. Y-not legal services
(Expert) 18 July 2015
