Amit (cio) 29 September 2014
I have a joint residential property in the name of My mother and me in Mumbai , Maharashtra, India. If my mother wants to transfer all her rights to me then do i have to pay stamp duty for the transfer. Also what legal document to be made to transfer the is type of rights.
Gaurav Garg (Legal consultant) 06 October 2014
Dear Amit,
Your mother can execute Gift Deed which can be registered at the Sub-Registrar office where the property is situated. It will incur a stamp duty which is a state subject and you are required to check with the Local Deed Writer.
Adv Akhtar Ali Sheikh (Property Law Consultant) 11 October 2014
If the property is purchased by you both she may gift her 50% undivided share to you under a gift deed which is required to be registered. The stamp duty will be 2% on 50% i.e. 1% on total market value.
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