My family and I are looking to buy a property in India. It’s owned by two brothers, one Indian and the other with dual Indian and US citizenship. He’s mentioned gifting his share to his brother before selling it to us to potentially avoid taxes. Is this a valid way to transfer ownership? Can a joint property be gifted like this? Should I proceed with buying this property?

Apni Law
Apni Law
Law Forum › Category: Property › My family and I are looking to buy a property in India. It’s owned by two brothers, one Indian and the other with dual Indian and US citizenship. He’s mentioned gifting his share to his brother before selling it to us to potentially avoid taxes. Is this a valid way to transfer ownership? Can a joint property be gifted like this? Should I proceed with buying this property?
Vote Up
209
Vote Down
Apni Law Staff asked 9 months ago

My family and I are looking to buy a property in India. It’s owned by two brothers, one Indian and the other with dual Indian and US citizenship. He’s mentioned gifting his share to his brother before selling it to us to potentially avoid taxes. Is this a valid way to transfer ownership? Can a joint property be gifted like this? Should I proceed with buying this property?

1 Answers
Vote Up
18
Vote Down

Best Answer

Apni Law Staff answered 9 months ago

Under Indian law, a joint property can be gifted, but this transaction must be registered and taxes may apply based on the gift value. It’s advisable to consult a lawyer to verify the legality of the proposed transfer and its tax implications before proceeding with the purchase.

You Might Also Like

Is it possible for a son to give his own land to his father as a gift in India using a gift deed?

What are the legal implications of a direct gift from a maternal aunt? Could there be two gift deeds – one from the maternal aunt to the mother and another from the mother to the individual? If so, can both deeds be made on the same day? Are there any other options for gifting property in this situation?

My neighbor illegally took over a path on my property, which was meant for rainwater drainage. I have the original plot plan showing the path. The panchayat hasn’t helped. Can I file a police complaint and have the wall removed?

Can a property owner in Delhi partially transfer their ownership through a relinquishment deed? If so, what’s the process, what documents are needed, and can someone else act on their behalf with a power of attorney, or must the owner be present?

My great-grandfather was granted a shop by the Land and Development Authority in 1965. He passed away in 1982. In 1996, the property was transferred to my grandfather’s name, even though there was no will. My grandfather received inheritance from his two sisters. He died in 2006 without a will. My father acquired a relinquishment deed from his two sisters and three children of his deceased third sister and sold the property. My father and my brother received the money legally through banking channels. I am married now. Can I claim a share of the property? Who should I claim from? What portion can I claim? How do I file my claim? What type of claim is this? Is this ancestral property? How long would the case take?

Share This Article
Previous Article I’m currently working in a government department and facing a criminal case under the PC Act. While I’ve been selected for a new government job in a different department and have been relieved from my previous role, they’re refusing to let me join due to the pending case. This wasn’t mentioned in the job advertisement. Is it legal for the new department to deny my joining because of a pending case? Can I still hope to join the new department?
Next Article My little one is 18 months old, and I’m thinking of changing his name. Can you guide me on the process for doing so?

Follow US

Find US on Social Medias
Popular News
- Advertisement -
- Advertisement -
Ad imageAd image

📢 Stay Connected!

Join our community on Telegram and WhatsApp for instant updates, news, and exclusive offers.