Property Transfer in India
Transferring property in India involves a legal process that ensures ownership rights are appropriately transferred from one party to another. Whether you're transferring property to a family member, selling property to a third party, or dealing with property inheritance, it is crucial to ensure the process is carried out in compliance with Indian laws. RK Legal Advisors India LLP offers expert legal assistance for all property transfer matters in India, ensuring a smooth and legally sound transfer.
How to Transfer Property Title Between Family Members in India
Transferring property title between family members in India is a common practice. Whether it’s a gift, inheritance, or a sale, certain legal steps must be followed to ensure the transfer is valid. The following methods are commonly used for transferring property within families:
Gift Deed: A property can be transferred as a gift from one family member to another. A Gift Deed must be executed on a non-judicial stamp paper, and it must be registered with the local sub-registrar office. Will/Inheritance: If property is inherited, the rightful heir must get the property title transferred through a legal procedure, which includes obtaining a probate or succession certificate. Sale Deed: Even within families, if the property is being sold to another family member, a Sale Deed must be executed and registered with the concerned authorities.
Types of Property Transfer in India
There are various ways to transfer property in India, depending on the nature of the transfer and the relationship between the parties involved. The most common types of property transfer in India include:
Sale of Property This involves a transfer of ownership from one individual or entity to another in exchange for monetary consideration. A sale deed must be executed, and the transaction should be registered with the local sub-registrar.Gift Deed A gift deed allows the property to be transferred voluntarily from one party to another without any monetary exchange. The deed must be executed, signed, and registered as per the Indian laws.
Will/Inheritance Property can also be transferred after the death of the owner through a valid will or inheritance. Legal heirs must go through the probate process or obtain a succession certificate to transfer the title.
Exchange of Property When two parties decide to exchange properties, a deed of exchange is executed, which needs to be registered.
Settlement Deed A settlement deed can be used to transfer property for the benefit of a family member, often involving the transfer of assets in the case of separation, divorce, or as a family arrangement.
- A Divorce (Dissolution of Marriage) ends marital relationship between a husband and wife
- Divorce is difficult and traumatic situation for both the parties. On one hand you have to deal with pain of losing your marriage and on other side you have to take care of emotional and social trauma being faced by your family.
- In addition, the procedures for divorce can be complicated and involves various aspects like
- Legal separation of the parties
- Alimony to spouse in terms of monthly maintenance
- Division and transfer of property and assets
- Custody of Children
- Cost effective negotiations and settlements through mediation
