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Home / Money / Calculators /  Stamp duty payable on deeds for gift, release and transfer

My husband and I stay in a house in Hyderabad that belonged to my husband’s father. His father died 10 years ago. My husband along with his sister are the legal heirs to the property. His sister does not want her part of the property. Just in case, there are some issues in the future, how can the property be transferred in my husband’s name?

—Rimjhim

While answering this query, we are assuming that your father-in-law died intestate (without leaving his will) and that your father-in-law was a Hindu and was governed by the provisions of the Hindu Succession Act, 1956, on the date of his demise. We are also assuming that your husband and his sister are the only surviving class I heirs of your father-in-law on the date of his demise. Further, we are assuming that in accordance with the provisions of the said Act (since your husband and your sister-in-law are the only surviving class I heirs), your husband and your sister-in-law are at present the joint owners of the house to the exclusion of any third person.

One of the following acts may be done to have the said house, which is at present in the joint names of your husband and your sister-in-law, transferred solely to your husband’s name:

1) Your sister-in-law may execute a gift deed in favour of your husband, gifting him her share/interest in the said house inherited by her on their father’s demise;

2) Your sister-in-law may execute a release deed in favour of your husband, releasing her share/interest in the said house, inherited by her on their father’s demise.

3) Your husband may purchase your sister-in-law’s share/interest in the said house from her by executing a deed of transfer and on the payment of consideration for the same.

It is to be noted that no sale can take place or no deed of transfer can be executed without payment of consideration by your husband to his sister.

Remember that stamp duty is payable on gift deeds, release deeds and deeds of transfer. Thus stamp duty will be payable on any the aforementioned documents that may be executed by your sister-in-law to transfer her interest/share in the said house in favour of your husband. The said documents shall be stamped in accordance with the provisions of the Indian Stamp Act applicable in Andhra Pradesh.

Further, it is to be noted that as laid down in section 17 of the Registration Act, 1908, gift deeds, release deeds and deeds of transfer are all compulsorily registerable documents. Thus, on execution of any of the aforementioned documents, the same will be required to be registered with the office of the sub-registrar of assurances within whose sub-district the whole or some portion of the property is situated, within a period of four months from the date of execution of the said document.

Queries and views at mintmoney@livemint.com

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