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
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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.