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Author Topic: best way to get property in my name  (Read 977 times)

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Offline dj5254

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best way to get property in my name
« on: August 09, 2015, 01:33:58 AM »
Hi, (Sorry it can be long to depict the problem)
After my father accidental death in my childhood, My grandfather(mother's real uncle) was kind of guardian to us.
We got LIC cover, that money our grandfather used to purchase a land for us, but somehow due to urgency or something he got that land in his name in our village.
Now after asking/forcing him multiple time he is willing to transfer the land in my name. But rather than going direct registration sale/purchase which attract multiple charges( govt registration fee, namantran, stamp duty & moreover Income tax 30%)
Whats the best way to transfer the land in money efficient way, just to mention (does he considered to be family member so i can use gift deed/dan patra)?
And what could be near about charges for the solutions?

Offline mamtatdave

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Re: best way to get property in my name
« Reply #1 on: August 09, 2015, 06:49:33 AM »
Gift Deed(Dan Patra) can be good for you to save income tax. As far as Stamp Duty, Registration Charges etc. you have to spend to get the property transferred in your name. In Gift Deed you can mention the reason which have stated here. i.e. this property is purchased from the LIC money of your parent.

 

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