I am planning to give my property to my son and daughter-in-law who live with me. I understand that the will must be signed by two witnesses. Can my son and daughter-in-law be witnesses of my will?
—Name withheld on request
As per the provisions of the Indian Succession Act, 1925, every will is required to be attested by two or more witnesses, each of whom has seen the signature of the testator in his presence. However, as per the Indian Succession Act, 1925, a beneficiary under a will cannot be a witness to it and hence in the facts of your case, the will cannot be attested by your son and daughter-in-law and the same would be two or more To be verified by persons who are not beneficiaries.
The testator has to either execute the will or accept the execution of the will in front of witnesses.
Further, although it is not mandatory, it is advisable that the witness be younger than the executor of the will. Also there is no requirement for registration of a will under Indian law.
I have a flat in Vile Parle (East), a suburb of Mumbai. I intend to gift flat to my daughter and son-in-law. What will be the stamp duty payable on the gift deed and whether the document needs to be registered?
—Name withheld on request
The stamp duty payable on the portion of the flat transferred to the daughter will be Rs.500 plus 1% of the market value of the flat.
However, the stamp duty payable on the portion of the flat being gifted to the son-in-law will be as per the stamp duty rates prescribed by the government which is linked to the market value of the flat.
This is because under the Maharashtra Stamp Act, 1958, the stamp duty on the gift deed of a residential flat to a spouse or descendant or descendant is nominal and since the son-in-law does not fall under the definition of exempted persons above, the stamp duty in immovable property Charges on transfer in favor of son-in-law of the right shall be as in any other transaction of sale and purchase of immovable property.
However, if your daughter and son-in-law want to own the flat jointly, then on completion of the gift in favor of your daughter, she can give 50% share in the flat in favor of her husband through a separate gift deed, i.e. your son in law.
However, the gift deed would require mandatory registration with the registrar concerned.
Hemang Parekh is a Partner and Mithali Naik is an Associate Partner at DSK Legal
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