what is the procedure to transfer my property to my granson without paying stamp duty.
Ranjit Asati
(Querist) 16 October 2008
This query is : Resolved
I has a house in which my grandson lives with his family.Now I am in my 80th year of age.So I want to transfer the house to his name.I have 3 sons more.But they are not worthy and not keeping relations with me.My grandson and I am not able to pay the stamp duty for it.Please tell some legal way to do so.
Thanks.
Srinivas.B.S.S.T
(Expert) 16 October 2008
execute a registered will in favour of your grandson. This is the only possible way to transfer the property without paying the stamp duty. But remember the beneficiary of the will get the rights over the property only after death of the executor of the will.
You can also execute a gift deed in favour of your grandson but for that you have to pay some amounts towards stampduty. Regards. Srinivas BSST.
Shyam Ji Srivastava
(Expert) 16 October 2008
Respected Ranjeet Saheb,
The only way to transfer your property to your grandson or to anybody without paying
STAMPS is REGISTERED / UNREGISTERED WILL.
BE REMEMBER TWO RELIABLE WITNESSES ARE NECESSARY FOR EXECUTING WILL.
I AM NOT SATISFIED WITH THE OPINION OF THE SRINIVAS. B.S.S.T. ABOUT GIFT DEED. IN GIFT DEED ALSO YOU HAVE TO PAY STAPS.
With Regards,
SHYAM JI SRIVASTAVA
ADVOCATE
09839028040
Srinivas.B.S.S.T
(Expert) 17 October 2008
Dear Shyam please read my opinion fully.
Adv.Shine Thomas
(Expert) 18 October 2008
Executing a will in favour of your grandson is the only way to avoid stamp duty.
Ashey
(Expert) 09 April 2009
As the sons may challenge the will .. it is recommended to execute a registered will to avoid future controversies ..
Y V Vishweshwar Rao
(Expert) 10 April 2009
I Agree with MR SArinivas
Exection of Regd Gift Deed in favour of Family members/Blood Relative with Stampp duty of 1% of the proerty value and Rs;- 1000-00 Registration Fee -in AP
It may not costs more !!!!
The will Deed will be subject to disputes/doubts & probate and it will come in to force only after death of the Testator !!!!!
