It is necessary to get it transferred to avoid property disputes. Through this you are legally called the owner of the property. To transfer the property, you can follow other procedures including sale deed and gift deed.
Property Transfer Methods
Everyone dreams of their home or shop, but due to the legal ramifications in it, many people are afraid to invest in it. Especially if the property is in the name of another and it has to be transferred, then the problem increases. But now you can easily transfer it in your name without any hassle. In these processes like sale deed, gift deed etc. can be useful for you.
sale deed
This is the most commonly used method for transferring property. It is also called transfer deed or sale deed. For this, it has to be registered in the sub-registrar office. For property transfer, stamp duty has to be paid in it. Its price is determined according to different cities, in Delhi it is around 4 to 6%. In the sale deed agreement, both the buyer and the seller have stipulated terms.
Gift deed
Many parents give their property as a gift to their children on their wedding or special occasions. In this case, gift deed can be used to transfer the property. This document allows you to gift assets or transfer ownership. There is no transaction of money in this. To gift immovable property, you have to draft a document on stamp paper. It also has to be attested by two witnesses. After that it has to be registered.
relinquish deed
Rilunkush deed means relinquishment. If you are a shareholder in a property and want to waive your rights, then relic deed is a better option. It cannot be changed like a gift deed. In this, it has to be registered after getting attested by two witnesses.
the legacy
When any person voluntarily transfers the right of his movable or immovable property to another person, it is called Will. Usually after the death of the owner, his successor gets the property under a Will. Two witnesses are required to make a Will and they must be registered. One copy of this is with the registrar and the other with you. No stamp duty is to be paid in making a Will.
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