Property Inheritance - will or gift? - Indian Real Estate Forum

unimog · 13-01-12

Ques...is it better for my parents to leave the flat in my name in their will or is it better to gift it to me now? A lawyer told them its better to gift it now and the reason I am thinking the lawyer said that is because he will get a good amount of commission/fees from it as there is stamp/registration fees involved in order to change it to my name. Can't trust the lawyers. My thinking is that since I will be inheriting it when its time my parents should not gift to me now (they end up paying registration/stamp fees). Any advice would be appreciated.

artikumari · 20-01-12

friends , Thanks for sharing the information,s that,s a nice post. I have been looking information on the property.This discussion has solve my concern .I am very grateful . i am just site visit and very happy to stop here. thanks for the news

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ashugupta83 · 21-01-12

yaa...you are absolutely right friend,your parents should choose the option as making will,but your parents will remain the owners of the flat till their demise(God forbid) and it is also a tax efficient as well as Pocket friendly way for the transfer of the property.
And remember,in case of transfering on more then one name,make sure that the Percentage of holding is clearly mentioned.
Regards
Ashu Gupta

13-01-12	#1
unimog New Member Join Date: Jan 2012 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	Property Inheritance - will or gift? Ques...is it better for my parents to leave the flat in my name in their will or is it better to gift it to me now? A lawyer told them its better to gift it now and the reason I am thinking the lawyer said that is because he will get a good amount of commission/fees from it as there is stamp/registration fees involved in order to change it to my name. Can't trust the lawyers. My thinking is that since I will be inheriting it when its time my parents should not gift to me now (they end up paying registration/stamp fees). Any advice would be appreciated.

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20-01-12	#2
artikumari New Member Join Date: Jan 2012 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts	friends , Thanks for sharing the information,s that,s a nice post. I have been looking information on the property.This discussion has solve my concern .I am very grateful . i am just site visit and very happy to stop here. thanks for the news best Hotels in Zirakpur

21-01-12	#3
ashugupta83 New Member Join Date: Jan 2012 Posts: 3 My Mood: Thanks: 0 Thanked 1 Time in 1 Post	yaa...you are absolutely right friend,your parents should choose the option as making will,but your parents will remain the owners of the flat till their demise(God forbid) and it is also a tax efficient as well as Pocket friendly way for the transfer of the property. And remember,in case of transfering on more then one name,make sure that the Percentage of holding is clearly mentioned. Regards Ashu Gupta