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Home > Forum > Mumbai > Property Selling > Should I go for sale deed or gift transfer?

Should I go for sale deed or gift transfer?

Q: I have a property on my name which was fully funded by my brother-in-law. Now, this flat which was under loan mortgage, is cleared of all loan. I want to transfer the said flat in his name. What should I do?? Should I go for sale deed or gift transfer? Please suggest ASAP.

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Replies (5)
1
I had come across an article in commonfloor which I think will be useful in this context. I am sharing the link, please go through- Only Registered Gift Deed of Property Is Valid.
rachana


2
Ronald, the stamp duty cost varies from state to state. I have heard that the stamp duty required to be paid is 0.25% of the value of shares transferred, though I am not sure about this. Please check and let mek now the actual rates.
Suresh


3
hello Ronald, You should take advice from your legal expert.
Daljeet


thks for your suggestion
Ronald Olivera,  Mumbai
14th September 2012


4
The property was purchased in your name and you had taken loan and also your brother-in-law had funded.. And now you want to give the property to him. Is this is what you are trying to say? Correct me if I am wrong..
manoj


Yes
Yes. Also please suggest for future terms whether should i go for sale deed or gift deed
Ronald Olivera,  Mumbai
13th September 2012


5
Hi Ronald, I feel gift deed would be the better option..
Suresh


In the Gift deed process or documentation please let me know how much do we need to pay the Stamp duty, Registration and other charges and about the registration.
Ronald Olivera,  Mumbai
13th September 2012


6

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