Does blood relation have a benifit of stamp duty/registration fees

Q: The appartment was sold to my uncle by my father (3 years back). Now, I would like to buy the same appartment from my uncle who is also interested in this sale. Does blood relation have any benifit of stamp duty/registration fees as sale is within the family.

What will be the cost for towards registration fees/ stam duty etc.

Sri

Sridhar k,

17th July 2013

Legal in Hyderabad

blood relation sale

Follow Discussion

Also see discussions for

Hyderabad Legal Legal in Hyderabad

Replies (1)

Hi Sridhar, there is no benefit over stamp duty or registration fee if the property is selling in between the relatives. However, with a mutual understanding, you can go for gift deed as a gift deed is usually a transaction that takes place between close relatives, where the owner of a property has agreed to give the property to another person by way of gift. In the gift deed process nomoney is exchanged legaly. To sign a gift deed many jurisdictions require that at least two witnesses the signing of the document. Though i would suggest you to hire a lawyer for smooth process.