Power of Attorney :
A is the owner of a flat situated at Delhi (i.e through PoA), now A wants to gift 50% of the property to B, making B the joint owner in the property. Can he do so by gift, if yes, then what is the process involved.
2 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 26 August 2014
As per the Supreme Court, immovable property cannot be transferred by way of PoA.
If the said property is owned by A through a PoA, then who is the real owner of the property who gave the PoA.
Owner of a property can gift 50% rights in the property to B by way of preparing a gift deed duly stamp and registered.
Sunil S Nair
(Advocate & Legal Consultant)
(66 Points)
Replied 04 November 2014
Facts to be mentioned in above query 1] How you are related to the person you want to gift the part of your property
2] Is this property your self earned property does this property have any other legal heir.
If it is your self earned property you are absolute owner of your property and yes you can gift it by paying whatever stamp duty is applicable in your state
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