Stamp Duty Exemption
Many have enquired with us on stamp duty payable for property transfer between members of immediate family.
YES - stamp duty is exempted (FREE) for the 1ST MILLION of your property's market value for transfers between:-
PARENTS --> CHILDREN
GRAND PARENTS --> GRAND CHILDREN
GRAND CHILDREN --> GRAND PARENTS
Besides that, transfers of properties between SPOUSES are free too. On this, there is no CAPPING of the market value. As long as the property transfer is between the married individuals, then it's FREE. It might be an old law but still applicable till this day.
BETWEEN SPOUSES,
WIFE --> HUSBAND
HUSBAND --> WIFE
