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To release right/ownership from flat

(Querist) 04 April 2015 This query is : Resolved 
Dear Sir,

My father has bought 1BHK flat and at the time of registration he added my name also in it. Then me and my father has made power of attorney and added my mother name in this flat. so now me, my father and my mother's name is this property.

now we want to gift this flat to my sister. so guide me whether we will have to pay any stamp duty for this or not. And what will be the process to release my ownership in this property? I want to get rid of this flat and want to gift it to my sister.

Looking forward to hear from you.

Thanks

J. S.
Isaac Gabriel (Expert) 04 April 2015
A gift deed shall be the right choice.


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