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Author Topic: Transfer of an Indian Property in my Wife's name from outside Ind  (Read 336 times)

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Offline Catch22

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Hello Respected Lawyers,

I would like to get your opinion on my case. I currently own a property in Chennai solely registered to me. I would like to transfer this property to my wife. We both recently became British Citizens and currently reside in London. I have the below questions:

1. Since I am transferring over my property to my wife what kind of Stamp duty and registration fee would I attract. Would it be considered a Gift or a settlement?

2. Is it possible to get this process done with out me and my wife visiting Chennai? We both have family in Chennai who we can trust.

With Regards,
C22

Offline adv.amarnath

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Re: Transfer of an Indian Property in my Wife's name from outside Ind
« Reply #1 on: March 16, 2017, 12:09:53 PM »
1. Since I am transferring over my property to my wife what kind of Stamp duty and registration fee would I attract. Would it be considered a Gift or a settlement?
Ans: You can transfer your property to your wife vide Deed of Gift but Stamp Duty and Registration Fee varies from state to state. In Chennai, for deed of gift you have to pay only Stamp Duty i.e. 7% of Market Value of the gift property.

2. Is it possible to get this process done with out me and my wife visiting Chennai? We both have family in Chennai who we can trust.
Ans: You can execute a Power of Attorney in favour of trustful person who will execute Deed of Gift on your behalf but your wife must be present to accept it otherwise it will be voidable and challengeable in future.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline adv.amarnath

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  • Advocate Amarnath Sanyal from Kolkata, West Bengal
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Re: Transfer of an Indian Property in my Wife's name from outside Ind
« Reply #2 on: March 16, 2017, 12:26:44 PM »
In addition to above, you can also go for Settlement Deed as it will cost cheaper than Deed of Gift in Tamil Nadu
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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