Information on Donation/Gift deeds in Mysore Property

Q: Hi. Does anyone here know the process of getting a title deed ready for gifting purposes? We have an ancestral property and planning to gift it.

Vijay Karthik, Mysore

23rd November 2014

Legal in Mysore

mysore real estate

mysore legal advice

karnataka municipality corporation

mysore gift title deep

mysore property gift

mysore gift stamp duty

mysore procedure for gifting property

mysore property advice

Follow Discussion

Also see discussions for

Mysore Legal Legal in Mysore

Replies (4)

The stamp duty is different for different types of deeds in Karnataka as such. If the property you want to gift is in Mysore only, or for that matter within Karnataka municipality jurisdiction, then the stamp duty is calculated based on per 1,00,000=00 rupees. 18 percent duty + 25 percent additional duty + 32 percent surcharge. Some Rs 8.500 per 1 lakh I think

Siddharth Roy, Mysore

26th November 2014

Comment

Yeah. There is also some rule with revoking the gift. Generally it won;t be applicable to you in this case. But nevertheless stay informed as the donor party. The donor has the final say in revoking the gift deed artly or wholly depending on som pre-agreed terms. Also be careful that the gift deed doesnt clash with any will as such

Nikhil Ram, Mysore

25th November 2014

Comment

I have heard there is some feature to gift to multiple people too. You know, like declare more than one donee, and only one of them eventualy gets the gift property. Something like that. Not sure of details. By the way, if the gift is a immovable property, like a plot or a villa, you needn two witnesses when drafting the deed at sub registrar office

Tarun Nayak, Mysore

24th November 2014

Comment

Basically speaking, a property gift is defined as a transfer of existing movable or immovable property made voluntarily by a person called the doner to someone who will be the donee. If the donee dies before the acceptance of the 'gift' , it becomes void and nullified.

Arun Rajan, Mysore

23rd November 2014

Comment