Senthilnathan (business) 11 December 2013
I've a son and a daughter. I would like to transfer the ownership a plot that i own at tamilnadu to my son. The plot was bought on my own earnings on my name, not an ancestral property. What is the cheapest way to transfer it to my son, so that he can use it for obtaining loan or his own purpose.
Some say gift deed, some say settlement deed. which one is cheaper but at the same gives full rights to my son immediately
Thanks,
Senthil
Senthilnathan (business) 11 December 2013
Just to add my above post, the current market value of the plot is Rs.20 lakhs
adv.raghavan (Advocate,9444674980) 11 December 2013
i think for both GIFT DEED AND SETTLEMENT DEED the cost is 30k plus other charges.
2BHelpfull (Other) 12 December 2013
Safest way is to transfer by WILL , as till ur last time u will be owner . as Will is effective from the date of willowner death.
for immediate transfer go for the Gift deed .
, it is advicable to go for WILL ,
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