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
Latest Answer: 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.
