Nagpurian (Self) 30 October 2013

Can a mother gif 60% immovable property to her sons ?

My mother Posseses a SELF ACQUIRED Immovable PLOT for last 25 years

My mother wants to GIFT 60% share the said PLOT to her 3 Sons (20% to each SON) and retain the balance 40% share with HERSELF.

My Questions :

1. Is this type of PARTIAL GIFT DEED permissible under LAW ?

2. Will the Gift Deed attract Stamp Duty on only 60% of the ASSESED VALUE of Plot which is being gifted ?

Reply Follow

5 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 30 October 2013

Yes. Gift can be possible.

Nagpurian (Self) 30 October 2013

Thanks for reply.

SO you mean to say that she can gift 60% share and retain 40% for herself from a single plot ?

Can you pls ans the Question No-2

Advocate Bhartesh goyal (advocate) 31 October 2013

{1} Absolute owner of property can gift/bequeth his property in whole or in part no restriction.

{2} Stamp duty will be payable only on the assessed value of gifted propertiy and not on whole property..

BAALASUBRAMANNYAMM (Advocate) 01 November 2013

Q.No.1. Yes your mother can give "will" as she wishes.

Q.No.2: The stamp duty which is payable is different from State to State. You can get the information from your local Registration Office, where you want to register the deeds.

Neeraj Thakur (Self Practising) 07 November 2013

Yes your mother can transfer 60% to her three sons and retain balance portion by the way of gift deed. Stamp duty must be paid according to the value of gift transferred.