Legal Question in Wills and Trusts in India

i want to gift a flat to my younger brother in ghaziabad (Uttar Pradesh).

Currently I am the owner of it.

Do i need to spend something for its ownership transfer?

Please tell me the best & cheapest way to transfer this ownership.

Home Load - HDFC Bank


Asked on 11/11/09, 3:42 am

3 Answers from Attorneys
Seshadri Srinivasan www.lawconcern.com

By a registered gift deed you can transfer. Contact local lawyer for assistance.

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Answered on 11/11/09, 3:47 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

home cannot be transferred as it is hypothecated to HSBC bank. it can only be transferred if the bank agrees to replace your brother as a debtor. in case your brother doesnt fit the bill, you cannot transfer it as you yourself have not become the owner as yet. in case you repay the loan or bank agrees to transfer, you need to spend stamp duty for gift deed as per value of flat.

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Answered on 11/11/09, 7:45 am


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