Release of my mother-in-share attracts stamp duty
Sujata
(Querist) 20 November 2012
This query is : Resolved
Sir,
My Husband and myself had brought flat and 2 Acres of Land in our name . The property documents currently have my husband & my name . It is self owned property. My husband had passed away . I am told by my lawyer that my husband share will be inherited by me , my son and my mother-in-law . My mother-in-law wants to release her share in my name or my son's name. I checked with the lawyer, he said my mother-in-law can make the gift deed in favour of my son and that would attract 2% stampduty .
My question is can mother-in-law do the reliquish deed on 200 Rs stamp paper and get it registered in sub registrat office .Also please suggest other ways that may not attract the stamp duty.
Devajyoti Barman
(Expert) 20 November 2012
Where do you stay? Stamp duty is different for every state.
In WB the gift or relinquishment attracts 0.6% stamp duty on the property to be transferred.
Sujata
(Querist) 20 November 2012
I am in Maharashtra
ajay sethi
(Expert) 20 November 2012
for gift deed it would be 2% stamp duty in mahrashtra . it has to be stamped and regd . however for deed of relinquishment it attracts nominal stamp duty . have deed of relinquishment regd
Sujata
(Querist) 21 November 2012
Sir,
If I am correct relinquishment deed in Maharastra is called "hakka sod patra" . I checked with registrat officer, according to him since the property is self purchased it will attract the stamp duty either 2% in case if haka sod patra is done in favour of my son and 5% in case the hakka sod patra is done in favour of myself
ajay sethi
(Expert) 21 November 2012
check provisions of bombay stamp act . in case relinquishement is amde in favour of close family relative stamp duty is nominal
Sujata
(Querist) 21 November 2012
Thanks Ajay for the reply , Could you please give me any reference lawyer in pune who could take this up. I am not sure where to check the provisions of bombay stamp act
ajay sethi
(Expert) 21 November 2012
see article 52 under bombay stamp act relating to release .
serach in LCI data base for lawyers in Pune
Sujata
(Querist) 21 November 2012
thanks Sir
Raj Kumar Makkad
(Expert) 22 November 2012
Relinquishment deed is possible only in case of ancestral property at nominal stamp duty otherwise the advice of registrar is correct. MAKE GIFT DEED.