Kangana Ranaut gifts house in Chandigarh to newly-married cousin Varun Ranaut but so can you
Kangana Ranaut recently gifted a property to her cousin as a wedding present. Here's what you must know if you are planning to gift one to your siblings
It may not be the customary gift but real estate as wedding presents is not a new trend in India, especially amongst the rich and affluent. In the latest example, actor-turned-politician Kangana Ranaut, the newly elected MP from Himachal Pradesh’s Mandi, has gifted a brand-new residential property in Chandigarh to cousin Varun Ranuat and his partner Anjali, as their wedding present.
Kangana Ranaut gifts house to newly-married cousin Varun Ranaut
In 2021, Kangana had gifted four under-construction luxury flats to her siblings and cousins in Chandigarh.
Here's what you should know if you are planning to gift a property to your siblings
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Section 122 of the Transfer of Property Act of 1882 states that immovable property may be transferred via a gift deed. It enables the transfer of ownership without any monetary exchange.
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Section 122 of the Transfer of Property Act of 1882 states that immovable property may be transferred via a gift deed. It enables the transfer of ownership without any monetary exchange.
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According to Neha Gupta, Principal Associate, Athena Legal, if you are planning to gift a property to your siblings, you should make sure that the property has a clear title and is free from all encumbrances. If the property has to be divided among more than one cousin or brother/sister, the share should be clearly specified, the person to whom the gift is being bestowed should be of sound mind.
Also, property taxes and municipal charges should be cleared before gifting the property so that person upon whom it is being gifted does not face any legal consequences at the time of transfer of property in his name on account of non-payment of taxes or any penal charges, she said.
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Home/Real Estate/Kangana Ranaut gifts house in Chandigarh to newly-married cousin Varun Ranaut but so can you
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