No, the transfer of property to your only child doesn’t take more time. Usually, there are two ways to transfer your property to your child: gift deed and will.
In gift deed, you can transfer the property to your child immediately. You will have to follow the registration process and pay the stamp duty as well. However, many states provide nominal charges in the transfer of property (gift deed) to blood relatives. For example, currently, the stamp duty in Maharashtra is 3%. But through gift deed to blood relatives, the charges are just Rs 200.
The other way is nominating your child through the will. Normally, people make a will and nominate their partner or their children for the inheritance of the property. However, the property will be inherited only after your death.
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Only child property to transfer takes more time
Rajan
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October 12, 2020
2020-10-12T13:24:05+00:00 2020-11-12T11:43:01+00:00Comment
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