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Murali (Proprietor)     01 August 2018

Can i gift a portion of my property to my wife ?

Hello All,

I recieved by way of family partition , an area of 25,000 square feet which has some buildings and some vacant portion. Can I gift about 2000 sq. feet of the vacant portion to my wife ?.

I reside in Tamilnadu.



Learning

 4 Replies

Adv Deepak Joshi +917017821512 (Advocate)     01 August 2018

Yes, you can make a gift deed and register that in Sub Register Office.

R.Ramachandran (Advocate)     01 August 2018

Yes, you can give GIFT.  However, please remember, it will involve payment of Stamp Duty on the value of the property which you intend to GIFT.

Kumar Doab (FIN)     01 August 2018

Husband can gift his self earned/acquired estate/property to wife.

So you can.

Hope the partition is registered with boundaries.

The stamp duty/fee/charges on gift deed is state subject and sate might have offered some relaxation for gift amongst spouses.

Check Locally ar SRO.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     02 August 2018

INTROSPECT ON THIS:
1.  YOU may execute a Registered Gift Deed of 2000 sq.Ft. of Vacant Land from the 25000 feet land.

2.  BUT how would you know as to which specific 2000 sq.ft. portion (of of 25000) would belong to the Wife and What would define the 2000 ft Land contours /location, in the Gift Deed.  IF you simply add Wife name in the Land Revenue document, THEN the Wife will have equal right over the entire 25000 Ft.

3.  Your 25000 is now an undivided property, hence CANNOT be Gifted, unless you create a Survey document and specifiy the 2000 ft contours /location on the survey record, which your wife COULD subsequently Sell /Lease /Transfer and show the proceeds in her Income Tax records.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com


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