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ankur (Consultant)     07 June 2019

Transfer of property

Hi I have a property which i am living in from last 8 years which is on joint name of my mother & father. House loan was on my mother name but i have payed the full amount including the interest. Now i would like to get my house transfer on my name however my father is saying that they will write a WILL with that house on my name, I would like to know my options as like what's better getting house registeration transfered under my name or them putting the house under my name, Or Get a gift deed & later get the house transfer/registeration on my name how much i would end up paying for the prorperty. What option is better for me . . I would like to know what would my father have to pay for getting the Gift deed prepared & later i have to get the house transferred under my name . Or simply ask them to transfer the property under my name would be best bet ?


Learning

 1 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     09 June 2019

Hello Ankur!

If your parents wish to transfer flat to you by way of will, then it might prove to be expensive incase in the state where the property situated is having mandatory to probate the will. For eg. in Maharashra, probate of will at High Court is Manadatory for any property situated in the State of Maharashtra. Thus, it is time consuming and expensive too.

If your parents can transfer the flat by way of Gift Deed, then it would be less time consuming and might be cheap too as stamp duty is less on any gift deed when gifted by father to his children.

 

Regards

Adv. Rohit Dalmia

9324538481


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