► Want to understand, whether there is any legal process by which Flat in my Brother name could be transferred to his Mother in law's name with out much expenditure.
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2 answers
2 Answers
Dear Sir,
Stamp duty concessions apply only to blood relatives (parents, children, spouse).
A mother-in-law is NOT a blood relative of your brother.
Cost (varies by State):
Stamp Duty: 5%–7% of market value
Registration: ~1%
Almost as costly as a sale deed.
Advantage: Strong, clean title
Disadvantage: High stamp duty.
Dear Sir, as per your query,
You can legally transfer the flat by making and executing a registered Gift Deed from your brother in favour of his mother-in-law.
The Gift Deed must be properly stamped as per State law and registered before the Sub-Registrar, after which ownership transfers immediately and conclusively with minimal cost.
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