Transfer of property between brothers
Vee kay kapoor
(Querist) 13 August 2016
This query is : Resolved
My married brother have a flat in his name at gurgaon, Haryana purchased from the sale of a delhi flat which was in name of my mother.
Now, my bother is ready to transfer of this flat in my name for a good consideration.
The society in which this flat is situated has not received the occupancy certificate.
Please clarify on the following:
1 - what can be the best mode of transfer this flat from my borother's name to my name - gift deed or a will by my bother. Please advice about the pros and cons on both methods.
2- in gift deed, what is the cost involved on account of Stamp duty, registration of gift deed and 3) transfer charges legally chargeable by the society, being the proper ty being situated in haryana.
Any other legal advice you would like to give on property matter.
Thanks in anticaption.
Kumar Doab
(Expert) 13 August 2016
The transfer is against consideration.
Sale is suggested subject to clearance of property documents, requisites.
Obtain legal opinion from your able counsel.
Gift deed confers ownership with immediate effect.
Stamp duty etc are state subjects and you may inquire locally.
Your counsel can also update you.
Dr J C Vashista
(Expert) 14 August 2016
Sale deed is to be registered in Gurgaon after payment of Stamp duty (as per circle rate or higher)and registration charges.
In this case, neither gift deed nor relinquishment deed is valid.
Rajendra K Goyal
(Expert) 14 August 2016
He can gift it to you.
Gift in Haryana to specified near relatives does not attract stamp fee.
Will can be changed at any time.
P. Venu
(Expert) 14 August 2016
However, a gift deed involves no consideration.
Kumar Doab
(Expert) 14 August 2016
Agreed with Expert Mr. P. Venu.
Kumar Doab
(Expert) 14 August 2016
Your description "My married brother have a flat in his name at gurgaon, Haryana purchased from the sale of a delhi flat which was in name of my mother."...............is vague and does not give confirmed record.
"The society in which this flat is situated has not received the occupancy certificate."..................It is a point to ponder!
If you have Pre-Existing interest in the property, then ONLY release may be possible.
Hence you need to have second opinion on release deed.
Expert Dr. J.C. Vashista,Mr. Rajendra K Goyal are near to you.
You can benefit from their counsel.
