Yes, a Power of Attorney (POA) holder can execute a Gift Deed to transfer property to themselves. However, this process requires careful drafting of the POA and adherence to legal procedures. In this blog, we’ll explain how this works, provide a real-life example, and outline the government charges involved in Karnataka.
Key Considerations for POA and Gift Deed Execution
When drafting a Power of Attorney (POA) for executing a Gift Deed, it’s crucial to:
- Specify the Purpose: Clearly mention in the POA that it is being granted for the execution of a Gift Deed.
- Include Donor and Donee Details: Provide detailed information about the donor (the person gifting the property) and the donee (the person receiving the property).
Real-Life Example: Gift Deed Execution Through POA
Here’s a real-life scenario to illustrate the process:
- Case: Ms. Sumathi (mother) granted a General Power of Attorney (GPA)to her daughter, Ms. Shilpa.
- Action: Using the GPA, Ms. Shilpa executed a Gift Deedto transfer the property to herself. In this case, Ms. Shilpa represented both the donor (her mother) and the donee (herself).
Below are the images of the registered GPA
————-
Below are the images of the registered Gift Deed for reference:
Government Charges for Gift Deed Execution in Karnataka
The government charges for executing a Gift Deed vary depending on whether the donee is a blood relative or a non-blood relative.
- For Blood Relatives
The following individuals are considered blood relatives:
- Father
- Mother
- Brother
- Sister
- Wife
- Son/Daughter
Government Charges:
- Stamp Duty: Rs. 5,000
- Registration Fee: Rs. 1,000
- Cess: Rs. 500
- Scanning Fee: Rs. 35 per page (approx. up 10-12 pages)
- For Non-Blood Relatives
Non-blood relatives include uncles, aunts, cousins, in-laws, nephews, friends, and colleagues. The charges are based on the property’s guidance value:
- Stamp Duty: 5.1% of guidance value
- Registration Fee: 1% of guidance value
- Cess: 0.5% of guidance value
- Scanning Fee: Rs. 35 per page
Note:
Guidance values can be checked online on the Kaveri Online Service or obtained at the information counter of the sub-registrar office.
Need Assistance? We’re Here to Help!
In Bangalore, we provide professional assistance for GPA drafting, Gift Deed registration, and other property-related services. If you need help, feel free to reach out to us:
Email: pgnproperties@gmail.com
WhatsApp: +91-97424 79020
Thank you for reading! We hope this guide has clarified the process of executing a Gift Deed through a Power of Attorney. If you have any questions or need further assistance, contact us.