Transfer of property is known to be a difficult and cumbersome process. Do you know why? Transfer of real estate or property mostly involves relatives and also a lot of legalities and paperwork. In cases where a transfer of real estate deed is to be done between relatives, a gift deed makes more sense than a sales deed. Wondering what a gift deed is?
A Gift Deed is the transfer of property from one individual to another as a gift. Once this deed is executed and registered, the legal rights and ownership are passed on to the donee or the person to whom the gift is given. Then, no one else can claim the right to that property. But transferring property to a loved one or a family member isn’t that easy.
If you want to transfer a property in India, it’s always advisable to take help from a legal agency or a lawyer. But when and why do people need to transfer a property? A deed transfer could be required under various circumstances such as the owner’s death, you could be selling your house to someone, gifting it to a family member etc.Property to be transferred could be a house, apartment, flat, plot, farmhouse etc. After the decision to transfer the same has been made, you must keep the following points and formalities in mind:
- A stamp duty needs to be paid while transferring the property.
- You need to provide the fair market valuation of the property to the office of fair trading so that the stamp duty can be calculated.
- In case the property has a certain mortgage amount, you need to inform the person who is buying or getting the property as a gift.
Other options available to you for property deed transfer are a sales deed and relinquishment deed. Hometurph, with its team of professional real estate service providers, can assist you in preparing the real estate deed transfer paperwork according to proper legal requirements and guidelines. We also help you to:
- Ensure that all details of the property are mentioned correctly
- Set up meetings with the other party
- Get the requisite forms signed and submitted to the authorities on time
- Doing all the running around and follow-ups
At Hometurph, we provide seamless Property Title Transfer in Hyderabad without any hassles. Experience our reliable and best-in-class property deed transfer services in Hyderabad by getting in touch with us online from any part of the globe.