Property Transfer In Tamil Nadu

Summary

In Tamil Nadu, family members can legally transfer ancestral property to the eldest brother through a gift deed, requiring a 1% stamp duty and registration fee, each capped at ₹25,000 and ₹4,000 respectively. Legal compliance and proper documentation are essential. For using a retired fathers property as loan collateral, the son needs ownership rights or the fathers consent, and must meet lender criteria. Consult local authorities or a lawyer for precise guidance.

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* brothers and * sisters having a ancestor property and * brothers and * sisters wanted to gift their share to their eldest brother on love and affection being karta of the family and took all responsibility for settling all of their life. for this settlement of property what is the stamp duty and registration fee in tamil nadu
In Tamil Nadu, when transferring property among family members as a gift, the following fees generally apply:
- Stamp Duty: *% of the market value of the property, capped at ₹*,*.
- Registration Fee: *% of the market value, capped at ₹*,*.
It's advisable to confirm with the local registration office for precise calculations.
* brothers and * sisters having a ancestor property and * brothers and * sisters wanted to relinquish their share to their eldest brother on love and affection being karta of the family and took all responsibility for settling all of their life. for this settlement of property whether it is legal possible and registration can be made
In Tamil Nadu, it's legally possible for family members to relinquish their share of ancestral property to the eldest brother, especially if done as a gift on grounds of love and affection. Here's what you need to consider:
- Gift Deed: A legal document should be prepared, specifying the transfer.
- Stamp Duty & Registration: As mentioned, these fees apply during registration.
It's advisable to consult with a local lawyer or the registration office to ensure compliance with legal formalities.
* brothers and * sisters having a ancestor property and * brothers and * sisters wanted to gift their share to their eldest brother on love and affection being karta of the family and took all responsibility for settling all of their life. for this settlement of property whether it is legal possible and registration can be made
Case Rating: *
In Tamil Nadu, it is legally possible for family members to gift their share of ancestral property to the eldest brother on grounds of love and affection. To proceed, you should:
- Prepare a Gift Deed: This legal document specifies the transfer.
- Pay Stamp Duty & Registration Fee: Typically *% of the property's market value, capped at ₹*,* and ₹*,* respectively.
Consult with a local lawyer or registration office for precise guidance and compliance with legal formalities.
on retired fathers property mortgage whether son can apply for loan based on his salary
Case Rating: *
In Tamil Nadu, if a son wants to apply for a loan based on his salary using his retired father's property as collateral, the following considerations apply:
- Ownership: The son must have legal ownership or rights over the property.
- Consent: If the property is solely in the father's name, the father must consent to use it as collateral.
- Lender's Criteria: The lender will assess the son's income, credit score, and the property's value.
Is the property solely in your father's name, or do you have ownership rights over it?