In India, the Supreme Court has clarified that a power of attorney (PoA) is not an instrument of transfer concerning any right, title, or interest in an immovable property. Consequently, municipal bodies are not allowed to mutate or register properties based on such documents. Let’s delve into the details:
Gift Deed:
One option for transferring property from a father to a son is through a
gift deed.
The transfer as a gift must be supported by a
registered instrument or document, signed by the person giving the property (the father).
The gift deed should also be
attested by at least two eyewitnesses.
Stamp duty rates for gift deed registrations vary by state (e.g., 2% in Uttar Pradesh, 5% in Haryana, 4% in Delhi, etc.).
Remember that a gift deed is an
irrevocable transfer.
Will:
Property can also be transferred through the
execution of a will.
The vesting of the property takes effect
after the deathof the person making the will.
A will is neither required to be stamped nor registered, making it a
cost-effectivemethod of transfer.
Transfer After Death:
If the father has left a valid will, the son needs to apply for
probate(if required) in the appropriate court.
A probate confirms the authenticity of the will legally.
In the absence of a will, the son can apply for a
succession certificatefrom the court.
Remember that legal procedures may vary based on the type of property and specific state laws.
Check out NoBroker Legal services to verify property title, draft sale agreement, deeds, property registration and moreYour Feedback Matters! How was this Answer?
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Through power of attorney are land assets transferable from father to Son?
Anuk
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2024-03-20T16:01:28+00:00 2024-06-26T16:04:41+00:00Comment
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