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hiten   24 May 2016

Gift deed

my mother in law is planning to gift her property in kandivali to my wife.my wife has two sisters and they have given the noc and i have got the affidavit cum declaration registered by the notary.i just wanted to confirm weather my wife can sell the mentioned property the next day itself after the gift deed is registered and the society should give us noc to sell the flat and also the buyer should not have a problem from our side to get home loan sanctioned.i also want to ask if my mother in law will have to pay any capital gain tax if she sells the property herself and then divides the share in 3 equal parts to her 3 daughters...quick reply would really be appreciated.thank you



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 1 Replies

Kumar Doab (FIN)     24 May 2016

Gift deed if not conditional and valid and registered confers ownership with immediate effect.

If the property is self acquired/earned NO NOC from anyone is required.

You may inquire the process/procedure, NOC  etc from Society.

Your able counsel specialzing in taxes, family/civil/property/revenue can advise on capital gains, and other points in detail.

 


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