If you wish to transfer your share in the house to your brother, you may do so by executing a gift deed in favour of your brother with respect to your half share in the house. A gift of immovable property should be in accordance with section 122 of the Transfer of Property Act, 1882.
Can I give my property to my brother?
It is possible to transfer the ownership of a property to a family member as a gift, meaning no money exchanges hands. This differs to a Transfer of Equity, where the owner remains on the title and simply adds someone else to it.
How can I transfer property to my brother?
If you want to transfer the property to your brother you can execute a registered gift deed. For this there is no stamp duty if the transfer is within the close relationship. The applicable registration charges have to be paid before the registrar’s office.
How can I transfer my house deed to another family member?
Community Answer. If the stand comes with a property deed, grant or trust, go to your local assessor’s office and obtain a transfer of deed form. Read it carefully, otherwise you will be paying a lot of money to transfer the property to another family. It should be free to change it if done properly.
How to transfer Pune property in Brothers name?
I have a property in Pune purchased in 2012 and now wish to transfer the title in my brothers name so that he can then sell the said property. I have heard that to minimise the effective costs of gift Deed now govt of Maharashtra has waived off Stamp Duty and Registration cost and it can be done on 500 Rs Stamp Paper.
Can you gift a property to your brother?
you can gift the properties that you wish to transfer in favour of your brother, this document needs to be registered at the sub-registrar’s office where the property is situated. No you cannot do a transfer by giving permission on a non-judicial stamp paper, this does not amount to a transfer.
