transfer of property without consideration

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What does ‘no consideration’ deed mean.

Written by Federal Title on 2022-04-27 . Posted in FAQs .

When someone says “no consideration” deed, what does it mean? Does it mean no transfer and recordation taxes? 

No. It actually means that the property is being transferred via deed without money exchanging hands.

However, not all no consideration deeds are exempt from transfer and recordation taxes.

There are a number of situations where a “no consideration” deed is appropriate, and some of them are as follows:

• Transfer between husband and wife;
• Transfer between individual and a revocable trust ;
• Transfer between Personal Representative of an Estate and the beneficiaries of the Estate;
• Transfer from individual(s) into an LLC;
• Transfer from LLC into individuals;
• Transfer from parents to children;
• Transfer from children to parents;
• Transfers pursuant to a divorce decree or settlement agreement;
• Transfer pursuant to a termination of a domestic partnership;
• Transfer between domestic partners;
• Inter-familial transfers i.e. grandparents to grandchildren or sisters to brothers, etc; and
• Transfer pursuant to a termination of a Partnership or Corporation.

This just gives an idea of situations when a “no consideration” deed may be used in DC, Maryland or Virginia. It is very important to check your local jurisdiction to see if there are any transfer and/or recordation taxes if you choose to do this type of transfer.

In cases where transfer/recordation taxes are likely, the tax assessment for the property is typically used to determine the amount of taxes owed.

It is really important to consider all of the factors and talk to a professional when you are deciding how your property is going to be transferred.

Need help with a deed transfer?

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Related articles:.

• Deed transfers among joint tenants… explained Each week this office receives several inquiries from homeowners seeking to transfer title to their property. The scenarios include transferring title between spouses, between ex-spouses, between and among family...
• Deed transfers in Montgomery County… explained In our previous looks at the topic of deed transfers, we’ve outlined the most commonly asked questions in our deed transfers FAQ and explored deed transfers + joint tenants...
• Deed transfers in Washington DC We often receive calls about deed transfers, usually someone asking to add or remove an individual from the deed or title to a property. People are often shocked to...
• Deed transfers, revocable trusts… explained Our office receives several inquiries on this topic. Check out our deed transfer FAQ and guide to deed transfers + joint tenants. Today I will be addressing Deed Transfers and Revocable...

deed , Deed Transfers , recordation taxes , taxes , transfer , transfer taxes

Comments (3)

Mayra lemus.

2015-01-26 at 21:48

I would to know if we can refinance a house that our father inherited to my sister, my brother and myself. He transferred the property to us trough a no consideration deed. We would like to lower the interest rate.

2015-01-28 at 16:43

Thanks for your question, Mayra. The answer is yes, you should be able to refinance. But you will want to contact a lender to get the specifics.

Dennis Walters

2016-05-21 at 18:25

I am doing a reverse mortgage on a borrower, but there is a problem. His mother gave him the house, but at the time his was married so the mother put a deed of trust on the property just in case they got divorced the wife wouldn’t get the house. No money exchanged hands whatsoever, but now the mother has alzheimer’s disease. What can I do?

Comments are closed.

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3 Ways In Which You Can Transfer Your Property

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If you are looking for ways to transfer your immovable assets, you have three legal options: sale deed , gift deed and relinquishment deed. However, you can't pick one of them randomly as each of these instruments play a specific role.

It is the most widely used means when we sell our property for monetary consideration. Also known as transfer deed, a sale deed has to be registered at the sub-registrar's office, after which the property gets transferred to the new owner. The person buying the property need not be related to you.

Advantages: It is an easy and a fool-proof way to transfer a property. A registered sale deed is a proof that you have sold your property. It will help prevent forgeries and frauds as the transaction information will be in the public domain.

Limitations: The selling of property results in long and short-term capital gains.

Under this deed, you can gift your immoveable and moveable property without any exchange for money. To gift any immoveable property, all you have to do is to draft a deed on a stamp paper, attested by two witnesses, and register it with the registrar's office. Section 17 of the Registration Act, 1908, mandates that transfer of an immoveable property should be registered, failing which it would become invalid. However, one can gift moveable property such as jewellery or car without any registration. The gift deed is irrevocable and the beneficiary is the rightful owner after the deed has been transferred.

Advantages: There are no tax implications if you are gifting a property to your relative. Here, a relative includes your spouse, sibling, siblings of your spouse, siblings of your parents, etc.

Outside this, a property received by an individual will be taxable if the stamp duty value of such a property received without consideration exceeds Rs 50,000.

Limitations: Although a gift deed can't be revoked, it can be challenged in the court on the grounds of coercion or fraud.

Relinquishment deed

If you are a co-owner in a property and want to relinquish your rights in that property, relinquishment deed is the best bet. Similar to a gift deed, the transfer is irrevocable even if it's without any exchange for money. It has to be registered and attested by two witnesses. There are no discounts or tax benefits for relatives as far as the stamp duty is concerned.

Advantages: A relinquishment deed allows seamless transfer if a property is owned jointly. It is commonly used when a person dies without leaving a will and the legal heirs end up inheriting the property.

Limitations: Tax laws put relinquishment under the head of 'transfer' and not gift. Hence, there are no tax benefits.

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Methods of ‘Transfer of Property’ – its ‘Legal’ &‘Tax’ consequences

• Arundhati Talgaonkar
• | Income Tax - Articles
• Download PDF
• 20 Nov 2022
• 23,913 Views

The Transfer of Property Act, 1882 (TP Act) establishes a uniform and precise legal framework for the act of parties that transfers movable property from one living person to another.

Section 5 of the TP Act provides a definition of ‘Transfer of Property.’ It describes a deed executed by a living person transferring property to one or more other living person, by self, or by other living people in the present or future. Whether incorporated or not, a business, an association, or group of people are considered as living beings.

A transfer is when something is changed hands from one person to another. Any tangible or intangible thing that a person or group of people owns is considered to be property. By giving away rights, interests, ownership, or possession, a property can be transferred from one person to another as long as all or some of the requirements are met.

There are two ways to transfer property: first, through an agreement between the parties; and second, through legal action.

The sale deed is typically the only method of property transfer that the general public is aware of. Despite being inefficient and subject to certain restrictions, this method is the most efficient, well-known, and common because it grants the property’s owner an absolute, unconditional, and unrestricted right to ownership. But if the transfer is to be made between blood relatives, it can be done through a gift deed or relinquishment deed if one of the joint owners is giving up or selling his or her whole interest in the property.

Additionally, if a property owner decides to keep their asset for themselves during their lifetime but pass it on to their family when they pass away, they have the option of executing a last “Will” that will take effect after their passing.

Here are some methods for transferring immovable property:

• Sale Deed: According to Section 54 of the TP Act, a sale is the transfer of ownership in exchange for a price that has been paid in full or in part, or a combination of both. It is the most typical method of real estate transfer.

The Sale Deed must be registered in the office of the sub registrar. Even if the buyer has paid the seller the full sum up front, a Sale Deed that has not been registered does not transfer possession to the buyer. Under the Income Tax, 1961 (‘IT Act’), such transfers are subject to capital gain tax and require the payment of stamp duty and registration fees.

In its budget for 2021–2022, the Maharashtra government promised a 1% reduction in the standard stamp duty rate on real estate transactions if the transfer of residential property or registration of a sale deed is done in women’s names. As a result, women will now pay less stamp duty than men when purchasing a home.

• Exchange Deed: According to Section 118 of the TP Act, an exchange is a transaction in which two people exchange the ownership of one property for the ownership of another, without either of the two properties being limited to money alone. Additionally, two separate sales might be carried out to transfer property between the parties.

The Exchange Deed will be subject to the same stamp duty as a sale of an immovable property. Although, the property with the higher value will be used to determine the stamp duty amount.

According to Section 54 of the IT Act, the exemption may be used in the event of a residential property exchange. The owner who is trading in the smaller flat for a bigger one won’t owe any taxes. Similar to the above, there will be no tax due if one purchases a smaller apartment with a market value roughly equivalent to the indexed long-term capital gains computed on the bigger apartment.

There can never be a tax exemption if a residential property, commercial property, or piece of land is traded for another piece of land or commercial property. One can invest in a residential property under section 54F of the IT Act or in capital gain bonds under section 54EC to claim an exemption on long-term capital gains arising on such an exchange.

• Partition Deed: The transfer by way of partition typically occurs when the Hindu Undivided Family (HUF) Karta wishes to transfer ownership of multiple or bigger possessions (land or otherwise) to other family members. Each member becomes the independent owner of his or her portion of the property upon execution of the partition deed, and they are free to sell, lease, give, etc. their respective assets.

The only problem with this type of transfer is that there will only be one title deed in the original, and different owners won’t be able to keep custody of it. However, it does not invalidate an individual’s ownership claim to a property.

A partition deed must be registered with the sub-registrar of the jurisdiction where the moveable property is located in order to be legally legitimate. To have the partition deed registered, the parties participating in the partition must pay registration and stamp duty fees.

After dividing a property by a partition deed, the recipients are not required by the IT Act to pay any capital gains tax.

• Relinquishment Deed: An irreversible legal document or instrument is used when a legal heir irrevocably relinquishes or releases his or her legal rights in an inherited property for another legal heir, such as their mother, son, daughter, brother, sister, etc.

The relinquishment deed needs to be registered with the sub-registrar in order to be valid legally. Only the portion of the property being given up is subject to stamp duty; the entire worth of the property is not. If the property is transferred by a relinquishment deed for a payment, the transferor will unavoidably incur capital gains under the IT Act, and no tax benefits would follow.

• Gift Deed: A registered gift deed may be used to transfer immovable property in accordance with Section 122 of the TP Act. The transfer of the real estate is done willingly and without payment. The transfer through a gift deed is similarly legally binding and irreversible.

According to section 123 of the TP Act, a gift deed must be registered with the sub-registrar in order for the transfer to be legitimate.

Since there is a stamp duty exemption that varies from state to state, the transfer by way of gift is typically more common when it occurs within blood ties. For instance, in Maharashtra, the stamp duty is INR 200 if the property is a residential or agricultural property and is given to family members of blood relatives without receiving any consideration. Unlike a sale or conveyance deed, a residential or agricultural property can be gifted to blood relatives without being required to pay consideration.

According to the IT Act, capital gains resulting from gifts of property to blood relatives are free from taxation. The income derived from the gifted asset, however, can be taxable.

• Trust Deed: In a trust, the property of the settlor, or creator of the trust, is transferred to the trustee for the benefit of the beneficiary, a second party. Trusts can often be divided into two categories: private trusts and public trusts.

A registered written document, a trust deed, must be used to declare a trust that has immovable property and constituted by a non-testamentary instrument, according to section 5 of the Indian Trusts Act, 1882.

The amount settled or market value of the property transferred under the Trust Deed charges stamp duty, just like on a conveyance. The relevant State stamp legislation, however, will have the final say in whether or not stamp duty is actually levied. The stamp authorities may allow stamp duty exemptions or relaxations in situations where the Trust Deed involves “blood relatives” in accordance with the relevant State stamp legislation.

The provisions of section 56(2)(x) of the IT Act will apply because when a property is resolved via the Trust Deed, it is essentially a gift. Under an “irrevocable” trust, Section 47(iii) of the IT Act exempts the transferor from capital gains tax. Please take note that revocable trusts are not eligible for the exemption provided by section 47(iii) of the IT Act, and any transfers made in such cases would be subject to capital gains tax.

• Will: If a person dies intestate, or without making a will, the property is transferred in accordance with the law of succession. If a person transfers property by means of a last Will, the vesting takes place following the death of the person making the last Will. However, ownership will only pass to the beneficiaries after the passing of the testator or the property’s owner.

The intestate succession laws that apply to Hindus, Sikhs, Buddhists, and Jains are outlined in the Hindu Succession Act, 1956. Muslims are subject to Sharia Law, whereas Christians and other people not covered by the Hindu Succession Act, 1956 or the Sharia Law are subject to the Indian Succession Act, 1925.

Moreover, the IT Act does not apply to any asset that is inherited, whether through a last Will or the laws of succession. Reselling such property acquired through the execution of a last Will, however, will subject the beneficiary to regular capital gains under the IT Act.

A Will is not required to be registered and no stamp duty needs to be paid on the execution of such last Will.

A probate from the High Court is occasionally required to give the last Will a legal status. A probate is a legal procedure that authenticates or verifies the last Will since there is a significant chance that the Will may be contested. It is significant to remember that not all states need wills to go through probate.

“A person’s immovable property typically has a large value, thus the method of transfer should be carefully considered as it might have major legal and tax repercussions.”

Di sclaimer:  The information provided in this article is for general informational purposes only. While an author tries to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information. Any views or interpretations described in this article are the author’s personal thoughts and do not constitute legal or other professional advice. You may discover there are other views or interpretations to accomplish the similar end result.

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Madam, Namaste. Would like to know tax implications on property received from husband’s sisters under a release deed without consideration.

first of all thanks to sharing this article is very informative kindly help me on this point “Is there any tax on relinquishment deed”? if you have any judgement on this point plz plz share with us. that will be your most kindness.

YOUR ARTICLE IS A GOOD COMPILATION. I WILL LIKE TO ADD THAT IN CASE OF PARTITION OF HUF ONE NEEDS TO FILE APPLICATION FOR RECOGNITION U/S 171 OF INCOME TAX ACT IF THE HUF IS ASSESSED. I DO NOT SEE ANY NECESSITY OF REGISTRATION WITH SUB REGISTRAR IN CASE THERE ARE MOVEABLE ASSETS ONLY. MY PHONE 9814093274

Thanks for sharing article is very informative and usefull,give details how property can be transferred in various ways Thanks

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Transfer without monetary consideration

Form  01TWC  (PDF 220 KB)

Dealing type -  TZ

Stamp Duty -  required.  The number of title references indicated as marked by Revenue NSW must agree with Note (A).

Any alteration to the title reference tenancy, interest/share, consideration, or change to the names of the parties must be marked. A minor change in spelling that does not alter the identity of a party may be ignored. The addition of a name must be marked.

Not required where:

• a life estate is created and the transferor is a party to the life estate
• a transfer to the Greek Orthodox Archdiocese of Australia Consolidated Trust from a person who holds land on behalf of a Greek orthodox parish or congregation.  A statutory declaration is required to show how the land is held by the transferor. See the Greek Orthodox Archdiocese of Australia Consolidated Trust Amendment (Duties) Act 2005 .

NOS form -  required. Panels 1, 2, 3B and 5 require completion.  Note  Where a transfer of part being road and a Note (NB) on the title refers to a deposited plan for the purposes of the Roads Act 1993 , the property address on the NOS form must recite the new lot and DP number, not the street number.

Not required for a transfer of minerals or coal.

Standard form of Caveat -  prevents registration.

Priority Notice noted on the Register  - see  Priority Notice  page. NOTE:  This dealing type signed on or after the 22/3/2021 must be lodged electronically using an Electronic Lodgment Network (see Conveyancing Rules 8.7 and 8.8). Where a required mandated dealing is excluded from electronic lodgment or circumstances allow the Registrar General to waive electronic lodgment under Conveyancing Rules 8.7 and 8.8, the incoming dealing must be accompanied with the Conveyancing Rules Exemptions form 2021 indicating the exemption.

Requirements are the same as for a standard transfer , together with the following.

(C) The full name of the transferor must be stated and must be identical to the name of the registered proprietor as shown on the Register.

A transfer pursuant to an Order of the Family Court of Australia must be drawn in the name of the relevant registered proprietor as transferor, see Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [395.250].

(D) Specify the basis on which the land is to be transferred, e.g. 'pursuant to an Order of the Family Court No. ... dated ...'. Reference to monetary consideration is not acceptable.

(J) The dealing must be executed by the transferor and the transferee and be witnessed, or it may be executed on their behalf as follows:

A transfer pursuant to an Order of the Family Court of Australia may be executed by the transferor, the transferor's attorney, an officer of the Court or by any person so directed by the Court. The capacity of the Court officer must be stated, e.g. Registrar or Deputy Registrar. Where the Court has ordered the dealing to be executed by a person other than the transferor or an officer of the Court, e.g. the transferor's spouse, an office copy of the Order must accompany the dealing. See Baalman And Wells, Land Titles Office Practice, Lawbook Co. 2001 [395.250].

 Where the transferor/transferee is the Owners Corporation of a Strata scheme, execution must take the form as set out in Strata Schemes Approved Form 23 (PDF 128 KB).  The following certificates are also required:

• Strata Schemes Approved Form 13 (PDF 23 KB) and 
• Strata Schemes Approved Form 10 (PDF 8 KB) where the initial period is not shown as expired on the common property title. and the Owners Corporation is burdened by the dealing.

Where the transferor/transferee is the Association of a Community, Precinct or Neighbourhood scheme, execution must take the form as set out in Community Title Schemes Approved Form 18 (PDF 20 KB).  A certificate as in Community Title Schemes Approved Form 21 (PDF 20 KB) is also required.

See  execution requirements for companies, witnesses etc pages.

(K) This section is to be completed where the notice of sale data (see NOS form above) has been forwarded to NSW LRS through the eNOS facility.

Staff processing information

For staff processing and registration procedure see Transfer form 01T .

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Transferring Real Property

Real property can be transferred in many different ways, both voluntarily and involuntarily.  There are three ways you can voluntarily transfer or grant an interest in real property while you are living: by sale, gift or dedication.  In a sale, you transfer your property in exchange for something else of value, called “consideration.”  When you transfer your property without getting anything of value in return, it is transferred as a gift (unless it is as a transfer of nominal ownership only; that is, a change in name only). When you transfer your real property, or a portion of it, to the government, it is called a dedication.   

There are several ways your real property can be involuntarily transferred from you, that is, without your consent and agreement. These include condemnation or eminent domain, foreclosure, adverse possession, or partition.  Federal, state, and local governments have the power of “eminent domain” which means that your property can be taken, in exchange for just compensation, to be used for the public benefit.  The legal process used is called a lawsuit for “condemnation.” You must receive notice and an opportunity to challenge both the taking and the amount of compensation given to you for your real property.     

Your real property can also be taken involuntarily from you in order to pay off debts you agreed to pay. This process is called “foreclosure” and your real property is sold to pay off your debts. The types of debt that can be paid off with foreclosure include mortgage liens , judgment liens, mechanics liens and tax liens. Property to be foreclosed upon must be subject to a mortgage or a lien of some kind, such as a judgment or tax lien.  

Another involuntarily method of transferring your real property is called “adverse possession.” This happens when you do not occupy or visit your land and have not clearly marked its boundaries. Another person or persons claim ownership of the land, and use it exclusively, and openly, for a period of ten years. After that time, the other person can bring a “quiet title” action and gain title to your real property. This is typically applied to a partial interest in property, such as a right of way.   

A “partition” action is another way your real property may be transferred involuntarily. Partition happens when you own property together with another person or persons, and you cannot agree on what to do with the property or how to use it. The other owners can file a partition action to ask the court to either divide the property physically or forcibly sell it to divide the proceeds from the sale.  

There are three ways your real property can transfer after your death: by will, by descent (an estate without a will) or by escheat (a very rare situation where the property owner has no will and no heirs).     

Legal Editors: Terrence Dunn and Ira H. Goldfarb , July 2017

Changes may occur in this area of law. The information provided is brought to you as a public service with the help and assistance of volunteer legal editors, and is intended to help you better understand the law in general. It is not intended to be legal advice regarding your particular problem or to substitute for the advice of a lawyer.

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Procedure of Transfer of Immovable Property

• By: Ravi Singhania
• Date: 28-Sep-2016
• Post in: Real Estate

Transfer of property is an act of conveying property from one person to another, in present or future. According to section 8 of the Transfer of Property Act 1882 (The Act), by transferring property, transferor transfers all rights in a property. There are various modes of transferring ownership of property: permanently by 1) relinquishment 2) sale 3) gift; and temporarily by way of 4) mortgage 5) lease and, 6) leave and license agreement.

Under Sec 54, the  sale  is a transfer of ownership by a deed (sale deed/transfer deed) for a price, paid or promised or part paid and part promised. The sale deed is compulsorily required to be stamped (stamp duty) and registered (before a Sub-Registrar) and is for consideration. Sale of property may result in long term, or short term capital gains tax liability, depending upon the period of holding of the property. This tax is payable by the seller of the property, and there are provisions under the Income Tax Act 1961 to save long term capital gains tax. Also, the tax implications are different when you have an under construction property and when you receive the possession of it. Also, the purchaser of a property is required to withhold 1% tax and deposit it with an authorized bank.

Sec 105 of the Act defines  lease  as a transfer of the right to enjoy a property, for a certain period, express or implied, in consideration of a price paid or promised, money or any other thing of value, to be rendered periodically or on such occasions. Section 17 of the Registration Act, 1908 mandates registration of the rental agreement, if the lease period is for more than 11 months. In all other cases, oral agreement accompanied with the delivery of possession is sufficient. The registration process involves payment of stamp duty and registration fees. The lease deed should clearly specify the purpose of the tenancy whether residential or commercial. The contract should also clearly mention the provision for premature termination of the lease. Under a lease agreement, the tenant has exclusive possession of the property. A tenant can sub-let the premises to a third party unless prohibited or restricted under the rental agreement.

Sec 58 of the Act defines  Mortgage  as the transfer of interest in the specific immovable property by way of a mortgage deed or deposition of title deeds for securing payment of a loan. The owner of the property creating a lien on an immovable property to the lender is the mortgagor. The lender is the mortgagee.

In a mortgage, the mortgagor may either deposit title deeds of immovable property to the lender or his agent with intent to create security or execute a mortgage deed. If there is a debt and if the debtor deposits title deeds with an intention that the title deeds shall be security for the debt, then by the mere fact of deposit of those title deeds, a mortgage comes into being. A mortgage by deposit of title deed does not require registration. Sometimes, a memorandum accompanies the deposit of title deeds to evidence the purpose of deposition of title deeds by way of an aide memoir. Though a mortgage by deposit of title deeds can be created by a mere deposit of title deeds without any written contract between the parties, in case the bargain or contract is reduced to writing, then it has to be registered.

Under section 122 of the Act, one can transfer immovable property through registered  gift deed . The immoveable property is transferred voluntarily without any consideration. To make the transfer valid it is mandatory to register a gift deed with the sub-registrar as per section 17 of the Registration Act, 1908, and section 123 of the Transfer of Property Act. A donor does not have the right to revoke or cancel the registered deed at a later stage unless there is a specific clause mentioned in the deed. Section 126 of the Act provides for a situation wherein a donor can revoke a gift deed. For instance, if the property was gifted so that the recipient can reside in it, upon the death of the recipient, the property will get transferred back to the donor if she is alive, else to the heirs of the recipient. The Income-Tax Act 1961 specifies that capital gains arising out of a gifted property to blood relations are exempted from tax. However, income accrued from the gifted asset may be taxable.

Relinquishment  is surrendering inherited or parental rights for another “legal heir”/ “another collateral” in the same property. In simple terms, relinquishment is a family arrangement where one legal heir surrenders his share in the property with or without monetary consideration for another legal heir. The relinquishment deed cannot be executed for another person who is not a legal heir. The relinquishment of property results in taxation of capital gains and on the basis of time horizon of holding the asset the gains are derived and taxes are calculated.

Registration of transfer of ownership of property

Once a property has been transferred by way of relinquishment, sale, or gift deed in the “name” of the recipient. It is also important to have the transfer recorded in the municipal records by way of  mutation .

Stamp duty  on transfer is payable as per applicable state laws. The stamp duty on gift deed may or may not be equal to the general stamp duty you pay on selling or relinquishing the property. It is different for different states in India.

Circle rate  is the minimum price at which stamp duty is payable in case of transfer of immovable property. These rates are an indicator of likely prices of properties in various areas. Circle rates differ within cities in the same state, and among various localities of a city.

Where the actual price paid by a buyer is less than the circle rate, stamp duty is generally paid on the circle rate. However, a Sub-Registrar is required to allow registration of property even when the stamp duty paid is lower than the circle rate. However, it can impound the document and adjudicate proper stamp duty. The buyer can provide proof of the fact that the actual transaction is at the value stated in the deed, and that is the correct market value.

State governments collect stamp duty and registration charges on the declared value or the circle rate, whichever is higher, on the property being transferred. These charges are usually defined as a percentage of the transaction value and differ across states. Besides stamp duty, typically 1% of the value of the property is charged as registration fee (to register the document). Stamp duty payable in case the purchaser is a woman is generally lower by about 1%-2% in most states. In Delhi, when purchasers are one or more women, its 4%, in case it’s only men or a corporate body, it’s 6% and in case it’s a man and woman it’s 5%. A further 1% is payable at registration charges.

For the seller of the property capital gains tax would be calculated on the value of the property as fixed by the Stamp Valuation Authority especially when such value is higher than the declared value of the property as appearing in the sale deed. In the situation of individuals and Hindu Undivided Families receiving properties from non-relatives, the circle value rate of the property would be treated as the amount on which income-tax is payable according to the Income-tax Act. In case a buyer get’s it for a lower price, the difference would be chargeable to tax as “Other Income”.

• Ravi Singhania
• Corporate & Commercial
• Real Estate
• Real Estate Regulation Act
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Comments (39)

Samir Naik says on 28 Mar 2018

Can I transfer property owned by me to a Pvt. Ltd. company in which I have 90% equity interest?

Praveen says on 14 Sep 2019

You can transfer your individual property only after paying appropriate Stamp Duty according to Section 5 of Transfer of property Act

Sunil rodrigues says on 29 Jun 2020

We are Title holders of Lands since 1930 some developers have constructed under Benami Bogues SRA how much stamp duty is to be paid on Lands transfer to Builder’s or Benami society

Ranjit says on 03 Apr 2020

Can I transfer my property vide oral agreement accompanied with the delivery of possession.

Chandr sekhar panda says on 13 Oct 2023

Can velid un registerd Gift writen in front of Gram panchyat office in presence of sarapanch and other khatadars and witneses. Dony is uncle, Doner is Nephue.

shan says on 21 Jun 2018

We are two sisters (both NRI) who have inherited a flat in Delhi via a Will from our parents. Now one of the sister wants to relinquish her rights to the flat to the other.1. Relinquishment Deed or Memorandum of Family Settlement (MOFS)?2. Stamp Duty and Registration charges if female?3. Will it be on the amount we pay them or Circle Rate or anything else?4. How long does this process take?5. Do you undertake this and what are your charges?6. How will the amount of settlement be shown on the Deed?7. Income tax implicationsWill be helpful if I can get a response asap.

sudhir r kulkarni says on 24 Jun 2018

i had three partner having own property of midc plot

Suvi says on 24 Jun 2018

My grandfather had 4 children. 2 sons and 2 daughters . One married daughter and other unmarried. All the children are deceased. The unmarried daughter has written a will to give her portion of her sisters children. Now the sisters children claim 50% of the property.We want to equally divide into 3 parts, but the sisters children are very greedy and taking advantage of the will.The grandfather never made any will. The property is not even registered.Please help.

P K GUPTA says on 06 Jul 2019

We are four brothers. On death of our father, one brother living in USA relinquished his share to his one brothe in India. This deed was mutated by SDM.Now can the brother in India execute another relinquish his share of property( 50%) in favour of another brother in India.

Chintaman says on 04 Jan 2020

My father transferred two plot among me and my brother on 100 bond paper at Gram panchayat level. Ir was not registered at register office. For home construction I tried personal loan of PVT bank and had a mortgage. But due to high interest rates, I cancelled it at register office. In this process this property is registered at register office. I do not know this. Later I applied for SBI home loan, then SBI said property transferred at Gram panchayat is not legal, you will make a gift deed. So I made Gift Deed.Now property transferred registered two different way on my name. Then bank told me the title is not clear. It is correct? Please guide me

Singhania says on 22 Dec 2020

Dear Mr. Chintaman,State Bank of India is right that the said property transferred at gram panchayat is not legal. However, since mortgage deed was registered at registrar office, it indicates that you have title to the mortgaged property. But as on date, the mortgage is also cancelled and therefore there is no document to establish your right to the property. Further, please note that only upon examination of the title documents of the said property and the letters issued by State Bank of India, we shall be able to give you a definite response on the aforementioned query.

Charulata says on 24 Jun 2018

My husband is paying installments of loan for a house which is in the name of his brother.the property belongs to his brother because his brother has taken loan on that property.now my husband wants half share of the property to be transferred on his name.so is there any procedure to do it before loan is finished.

Jagat Halder says on 01 Jul 2018

In the year 1982 I got a residential plot admeasuring 3.22 kottah for 999 years from W. B. Govt by paying salami @ Rs.5000/-per kottah. Govt. has now allowed me to transfer the said plot to actual occupier to whom I have allowed to construct house and stay by agreement as I was living in other state due to my Service requirement. Govt.has charged transfer fees @Rs.500000/- per kottah besides applicable stamp duty on market price and registration fees. I have transferred the said plot by registered deed and received Rs.10,00000/- lakhs as consideration money by cheque in two part, i.e. Rs.500000/- in March,2018 and rest Rs.500000/- in May,2018.Kindly advice how to put it in IT return for 2018-19 (AY) for capital gain. Although, there is no capital gain as the circle rate / market price is much higher on which stamp duty is paid by the transfaree

Ammie Kaur says on 11 Sep 2018

Hi My parents purchased a property on POA & now want to do a registered sale deed. The property is on my Dad�s name & now they want to transfer it to my mom�s name.. Is it possible� postal code 110045

Chethan k c says on 25 Jul 2020

Sir…is it possible to divide a site by two and can have equal rights?equal right to sale?

rakuten.co.jp says on 23 Oct 2018

Excellent article! We are linking to this particularly great article on our site.Keep up the good writing.

RENU BANSAL says on 07 Jun 2019

In the year 2019, our 2 Private Ltd. companies have merged. There is a land in transferor company, whose title has not been transferred to transferee company till date. Now, we want to sell this land to 3rd party.I want to know can we sell the land to 3rd party with title of transferor company

Suggested Webpage says on 28 Jun 2019

Good article and right to the point. I don’t know if this is really the best place to ask but do you folks have any thoughts on where to employ some professional writers? Thanks in advance

Manish Sharma says on 05 Jul 2019

My grandfather had owned a property for around 5000 square feet and now he make his registery into two. I just want to know that how much money is require to get the registery transfer.

Singhania Partners says on 05 Jul 2019

Dear Manish Sharma,(a) Whether registry of the property in two parts is permitted in that State should be the determining factor; and(b) Stamp duty is State specific subject and the same should be known before we can advise on the proper stamp duty payable.

NIHAR JAIN says on 23 Aug 2019

Why PANCARD is required from a guarantor for tranferring the property from one family member to another family member?

Singhania Partners says on 02 Sep 2019

Dear Nihar Jain,Please elaborate on your query as we understand that this relates to a specific transaction.

H. S. says on 19 Sep 2019

My father is a widower and had built himself a single-storey house. The house is in his possession and he holds the sole title. Subsequently, as I was employed, he asked me to contribute money to build two floors for me and my elder brother to settle there with him. I accordingly made regular monetary contributions by way of cheques to help my father construct two additional floors. Presently I am living on the first floor whereas the second floor is vacant for my brother (presumably). My father continues to hold the sole and exclusive title to the entire property. I have now realised that his servants, on whom he is utterly dependent since my mother died a few years ago, have taken advantage of his advanced age and poisoned his mind against me and my family. As a result relations between me and my father are tenuous and strained, and he frequently asks me about vacating the first-floor, or he gets strangers to the house to depict a possible sale in future.1. What are my options to safeguard my interest – and claiming my portion of the house on the first and second floors?2. How can I ensure he doesn’t sell the entire property just to spite me?3. How can I ensure that he does not Will the Title of the house to his servants exclusively?

Singhania Partners says on 14 Oct 2019

As stated in the query, the house is a self -acquired property of your father and therefore , at the very outset you have no right to use or take possession of any part of the house whatsoever. However, you are at liberty to claim a share of the property in lieu of your contribution in building it. But the onus is on you to prove your contribution by producing relevant evidence.It is a settled position of law that if you have the requisite evidence of your contribution in building the house, you may approach the Court seeking an injunction against your father from disposing the house and you may also file a suit therein claiming the share proportionate to your contribution towards building of the house.After the conclusion of the entire settlement process, your father is at liberty to deal with his share of the property in the manner he likes.

Tripathy. says on 11 Oct 2019

Hello Sir,Me and my brother co-own two flats. One in Delhi and the other one in pune. My brother wants me to settle in pune , hence I am relinquishing my share in Delhi flat and he is relinquishing his share in pune flat. Since I am moving to another city he is gifting me 50lacs as gift. Hope it would not attract any income tax on my end. We will sing a MoU and will mention above that he is gifting me 50 lacs and will get it registered by way of gift deed.Regards, Tripathy.

Raja Naik says on 19 Nov 2019

How to purchase an agricultural property attached to village (Revenue Village), the status of land as agricultural even its falling within the village boundaries (RTC entries still available).can we registered as revenue site, the land measuring 5guntas, please reply

REKHA NEMANI says on 14 Jan 2020

for share transfer from one company to the another, including the assets, do we consider circle rates of land, or market rates?

Murali says on 19 Jan 2020

We got a firm which is registered of 5 partners 2 partners bought their property as capital after one year two partners exit who brought property has exited from firm. Now how to register the property in the name of remaining partners

Singhania says on 27 Jan 2020

Dear Murali,We believe that the response to your query is fact based and we will be able to give a conclusive answer only after reviewing the relevant documents.Accordingly, we request you to visit our office next week and we will be happy to take it forward from there.

Ranjit Kumar sinha says on 02 Apr 2020

What is mean in all other case transfer of ownership can be done on oral agreement followed by delivery of possession.

Parvinder singh says on 06 Feb 2020

Our Himachal Pradesh based private limited company has now become public limited company. How to transfer the immovable property in the above scenario. What will be the value of transfer, stamp duty (if any).

Sanjeev says on 24 May 2020

My Father owned immovable Property was left behind with unregistered WILL in 1990. We were two brothers and two sisters and my mother who gave their Affidavit regarding no objections to Last WILL of my father and got Mutated the property in 2007. As per WILL after the death of mother who according to WILL had rights to enjoy 1/3 part of the property and WILL clearly mentions that after the death of my mother her 1/3 share shall be decided equally between we two brothers.My mother in influence of my divorcey sister transferred part of her 1/3 share in favour of divorcey sister through registered transfer deed.Presently after my mother had recently expired and we came to know about this illegal part transferred in favour of divorcey sister. Divorcey sister is in possession of one room with attached bathroom, store and dressing room. She had licencees right to stay, but now after the death of my mother she is blackmailing us for money to vacate the possession. Pls suggest best fast track to get possession from licencee sister. She too had given Affidavit of No Objection to fathers WILL in 2007

Ramesh says on 20 Oct 2020

My father purchased plot and I construct the house .My father expired in 2018 and after that we demanded our share then our one younger showed blood relation dead of 2015 I e. five years back of my father dead .My father attended even marriage after that period.Is such dead valid

Rahul says on 25 Feb 2021

My father gifted me house in mumbai and society is asking for transfer fees and i said there is no transfer fees in internal transfer they said will pass a resolution in meeting and will take it from you . Is this right procedure by society please guide urgently

Mr. Sumiti says on 14 Jul 2022

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P.C.Guruswamy says on 14 Jul 2022

sir my name id P.C Guruswamy from mysuru my father was get a immovable property through deed of dissoloution deed with his 1 st partner also property alloted to him 1984 1 st party from retired from partnership firm and give a notaryised declaratrion to my father name has a my father has owner of the entier property on that base municipal katha was changed from 1 st party to my father 2 nd party i 1986 ,my father was died in 1995 after that legal issue start between family members of father matter went to court in 1999 the in settel in court through by way of comprise and court appointed a commissoner and dived the property as per comprise pettion along with bifercation plan and same as been registerd in sub-register office of mysuru and as afinal dercree to all legal hiers of our father on that base municipal katha was changed in indiviual name in2010,2011. know some one says deed of partnership disolution is reqiured reg .deed in sub register in mysuru . whether is partnership deed is required stamp duty please reply.

Piyush Sharma says on 18 Aug 2022

I had loaned some money to a friend on interest free terms. That individual is facing issue in returning the money. He is willing to give me an immovable asset. What would be the procedure for that?

sumitihomelen says on 03 Oct 2023

I am a private money lender that give out fast cash no collateral required. all cash amounts and currencies, if interested TO started no matter your location http://sumitilendinghome.in (WhatsApp) number 918131851434 [email protected] Mr. Damian Sumiti

Ram Pandey says on 12 Nov 2023

Can I transfer a property to based of surrender deed if second party is not agree with deed

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Section 8 of the Transfer of Property Act

Introduction

Transfer of Property is an act by which a living person transfers property to one or more other living persons or oneself in the present or future. The Transfer of Property Act of 1882 is the legislation in India that governs and regulates property transfers.To execute such transfers, we need to understand not just what properties may be conveyed but also the mechanisms by which such transfers work. 

Confused About Section 8 Of Tpa? Our Legal Experts Are Here To Guide You!

Essentials of the operation of transfer under Section 8 of the Transfer of Property Act

There are three major elements of section 8 of the Transfer of Property Act which are as follows-

1)Transfer without Consideration

The transferor is said to transfer something unconditionally when he lays down no condition and is willing to transfer his property without any consideration, or if he has not expressed any intention, then it would count as a conditional transfer;

Gift deed: The transferor may execute a gift deed . This would mean that he would transfer his absolute interests and title in the property to the transferee, and the law would presume that he has no contrary intention. A deed is said to be an unqualified or unconditional transfer.

2) Legal incidents of transfer:

This is the most important aspect of Section 8 of the Transfer of Property Act, which means that whatever comes along or is attached to the property needs to be transferred. In other words, the property and any legal incidents associated with it must be transferred as part of the same transaction. A person cannot transfer anything to another by performing activities that he is not authorised to perform.

a)Land: All things attached to the earth, Rent and profit occurring after the transfer, Easement attached to it

b)Machinery: In the case of machinery, all its movable and immovable parts shall be transferred.

c)Home or house:   Locks, keys, windows, etc. all that provide permanent use, Rent, and profits occurring after the transfer, an easement annexed with it

d) Debt: If the property transferred is a debt, then all securities with that debt shall pass on to the transferee.

e) Money: Money or other property that has the potential to generate income must be transferred, with the interest or income accumulating after the transfer takes effect.

Right of Preemption

Moreover, when there are several owners of immovable property, each co-owner has the right to transfer his or her portion of the property or any interest therein. To transfer property,under Section 8 of the Transfer of Property Act a co-owner does not necessarily have to wait for or obtain consent from other co-owners. However, the surviving co-owners would have priority over third-party outsiders in acquiring the property. This is referred to as the right of preemption..

3) Different intentions expressed or implied:

Unless and until the transferor expresses a different intention, the property and all his interests are said to be fully transferred to the transferee. In some cases, the transferor may reserve some interest in the property for himself or may not want a specific part to be passed on. This will be communicated by using a phrase or term.

If the words are not clear, then the intention prevails upon execution of the deed of sale. There is some question as to whether the title passes to the vendee or not, which depends upon the parties’ intention.

Registered sale deed:

Secure Your Property Transfer With Our Expertise. Choose The Right Path By Consulting Our Property Lawyers

Gender Restrictions in Absolute Estate

1) There have always been some restrictions in the transfer of property according to the Section 8 of the Transfer of Property Act to women and some ambiguity regarding inheritance and absolute enjoyment of property. The Supreme Court in a judgement stated that “A transfer conveys the full estate of the transferor when no restriction is expressed by the deed”. In the case of females, it was a unanimous assumption and obscurity that the Hindu law requires a gift to a female to be understood solely as a restricted and limited gift. 

2) The points that were put forth by the Proposition in Mahomed Shumsool’s case were interpreted by Indian High Courts to mean that a gift of immovable property to a woman could not be deemed to confer upon her an absolute estate of inheritance, which she could alienate for her own enjoyment, unless the deed expressly grants her the power of alienation. 

3) It has recently been examined in some High Courts that, according to the law as in Section 8 of the Transfer of Property Act it is now understood, there is no presumption one way or the other, and there is no difference between the case of a male and the case of a female; it has been clearly stated that  “The fact that the transferee is a woman does not make the gift any the less absolute where the words would be sufficient to convey an absolute estate to a male.” 

Get Professional Property Consultation Today And Understand Section 8 Of The Transfer Of Property Act!

In light of the above explanations given, it can be understood that the operation of transfer provides the clarification that the transfer of property passes on all the interests as well as the legal incidents to the transferee. In other words, both the property and the legal incidents associated with it must be transferred as part of the same transaction. Section 8 of the Transfer of Property Act is read with various other provisions, making it an important part of the concept of transfer.The legal consultancy services will help the individual with operation of transfer of property.

Property can be transferred from a living person to to one or more other living persons . Consult an expert to know all the technicalities about it.

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