Query with GIFT DEED
5 years ago
I got 3,00,000 INR as a gift from my mother via bank transfer for immigration purpose and preparing a GIFT DEED for the same. I have got the format online and going to print it in a stamp paper and get that signed by me and my mother in front of two witness.
My questions are
1. Is registration of the GIFT DEED mandatory?
2. What should be the value of stamp paper?
3. Anything else that I should consider?
Thanks in advance!
Rajeev RJ
Responded 5 years ago
A.No need to execute the gift deed. If you want to create a document then same should be executed in 100 rs stamp paper.
Regards
Rajeev
Regards
Rajeev
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Deepak Yashwantrao Bade
Responded 5 years ago
A.Dear client any deed should be registered in registrar's office.you can choose stamp papers from 100 to 5000.it depends on your choice. Moreover into gift deed you should have to mention that gift given under free will and no need of any consideration. Kindly go through lawyer for making deed and all procedure of gift.
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ROBERT D ROZARIO
Responded 5 years ago
A.Gift made by way of cash or cheque does not mandatorily requires to be executed through a gift deed. Writing a plain typed note on a paper will generally suffice. It is not required to be stamped and registration is also not needed. Mention the names of persons, their relation and that the gift is being given out of love and affection. However, a gift deed can be made in stamp paper and stamped by the notary or court. Registration of gift deed is not required in case of transfer of moveable property, The deed is required to be signed and preferably in presence of 2 witness. Registration is not required, but if the parties desire they can get the same registered.
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Ambrose Leo
Responded 5 years ago
A.Yes, you can take help & assistance from a Professional Lawyer from the panel of Vidhikarya on all aspects of the issue quickly and also protect your interest.
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NILANJAN CHATTERJEE
Responded 5 years ago
A.in cases of bank transfer you may or may not go for gift deed. But, in case some of your other family members accuse you for coercion or fraud in such case registration is better. In case of Mother gifting to son the rate of registration and stamp duty is very nominal and there is no boundation in regards to value of stamp paper. You can use stamp paper from Rs.10 to Rs.5000 depending upon your choice or stamp duty as specified by registration office.
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A.Registration is mandatory only for gift of immoveable properties. for moveables, cash it is optional.
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Rameshwar Dadhe
Responded 5 years ago
A.The law requires acceptance of the gift after its execution, though the deed may not be registered. ... A gift of immovable property, which is not registered, is bad in law and cannot pass any title to the donee. Documents should be stamped and registered as required, and attested by two witnesses.
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