- Different states have several laws and regulations regarding the fees and registration charges which depend on the total market value of the property.
- The advocate fees for Gift Deeds may vary from Rs 3000 to Rs 25000 accordingly, depending on the required documents and lawyer assistance.
- The advocate’s fees for Gift Deed registration and documentation depend on the experience of working and knowledge of the law. The lawyer covers drafting, sending forms, getting the deed registered with the sub-registrar, and other related procedures.
- Gifting a property is the transfer of ownership to show love and affection. In India stamp duty, fees of the lawyers, and additional charges should be cleared to complete the registration process.
- The tax and stamp duty are different for each state and can be calculated with the help of legal advice provided by a competent advocate.
- The advocate fees for Gift Deeds are also according to the location, the market value of the property, their skill set, knowledge, and duration.
What are advocate fees?
- The fees charged by an advocate for their legal services in a due period are known as advocate fees. The legal fee can vary from one state to another, and it also depends on the financial capacity of the clients.
- The lawyers also charge accordingly to the nature of the case and the mitigation period. The advocate fees for the Gift Deed fall under the same criteria and are charged accordingly.
- In India, top advocates are seen charging their clients in leaks to appear and represent their clients in the Supreme court. The normal range for lawyer representation of cases goes around three lakhs to 7 lakhs. The charges for different specialists may vary.
- Here, advocate fees for Gift Deed registration are usually a small percentage of the property value. The registration is done with the sub-registrar, and a property expert lawyer can help in the prompt processing of the property registration.
What is the registration fee?
- A registration fee is charged to record something officially. It is clear to register or sign up for something in a legal manner to make it lawfully valid.
- A Gift Deed is made to voluntarily transfer property to a family or non-family member as a gift of appreciation or gratitude. This is within legal rules and regulations and is gifted without consideration.
- Certain stamp duty and registration charges are to be cleared for registration of a Gift Deed. The donor is the individual who gives, and the donee is the individual who receives or accepts the gift. The advocate fees for Gift Deeds are to be paid, including tax, registration fees, stamp duty, etc.
Two types of property can be gifted
- Movable property
- Immovable property
- Tangible property
- Existing property
The deed of gift is registered to make it legally valuable and can be enforced in a court of law. The registration process involves drafting and finalizing clauses to print on the stamp paper. Then it is registered with the district sub-registrar.
It is governed by sec 126 of The Transfer Of Property Act 1882. Specific grounds and clauses are also mentioned to revoke a Gift Deed when required. The advocate will complete the procedures required by the client, and the advocate fees for Gift Deed will depend on the work involved during the process.
The gift is void if the donee or donor dies before gift acceptance. A minor cannot give a property, although they can receive it.
Registration process and charges
- A registered instrument must be used to give an immovable property as a gift to another individual. The deed of gift is signed by the donor and two witnesses as it’s a mandatory requirement by the law.
- The formalities are to be cleared, which include advocate fees for Gift Deed registration, stamp duty, and processing charges, and also, these need to be checked for determining the advocate fees for Gift Deed.
- The Advocate fees for Gift Deed registration depend on the total market value of a property and the state where it is being registered. Advocate fees for Gift deeds also depend upon the registration charges of the Gift Deed.
- Stamp duty charges are different from one state to another and can vary between 2% to 7 %, depending on the location of the property, the total market value of the property, and the district.
- Delhi= 4% for women and 6% for men. (advocate fees for Gift deeds may vary from state to state)
- Gujarat= 4.9% of the total market value of the property. ( advocate fees for Gift Deed can vary around 2000- 8000)
- Punjab= 6% of non-family members and 0 for family members.
The registration charges are covered at 1% of the total property value of a particular location.
For example, an individual gifting a property of Rs 1 crore has to pay a stamp duty of 3 %. So the stamp duty total charges are 30 lakhs that are to be paid for the registration of the property.
Documents required for deed registration
The documents required for Gift Deed registration can be handled professionally to avoid future complications.
- Original copy of Gift Deed.
- Identification proof.
- PAN card or Aadhar card.
- Sale deed
- Any other additional documents if deciphered by the registrar.
The documents must be signed and verified by the sub-registrar to complete the procedure of registration. The advocate fees for the Gift Deed are cleared during the registration process to bring it into effect immediately.
Two witnesses and their necessary documents are also required for confirming the validity and authenticity of the deed. Advocate fees for Gift deeds also depend on the knowledge and skill set of the lawyer.
A lawyer or an advocate handles and helps in the drafting, processing, and registration of the Gift Deed. It is a document of legal value, and legal advice must be taken from a lawyer before the drafting so that they can draft and prepare the necessary documents required for registration. The advocate fees for Gift Deed varies depending on the work involved during the whole procedure.