vickysamshri (PM) 13 August 2012

Property transfer with in relationship

I have some queries regarding SRA property, please help me out.

We had a property in mumbai, which is undergone for SRA developement under one developer, The Investment was made on this property by me (90%) & my daddy(10%). Since the property took from our uncle with in relationship, my dad has made an affidavite and transffered on his name instead of My name (Since major amount invested on this property by me).

Now in Annexure & survey Dad's name has gone, & offcourse the property will get allocated on Dad's name.

Now here i made my dad to prepare the power of authority, will & Transffer paper on my name, to avoid the disputes in future with my younger brother.

My fear is, may be in future my brother may claim for this property once the property value increased to some extent, but my concern is till my parents are "ALive" let enjoy that property by them, after that the property should get transffered to my name, since i was major contributor & my brother has not even spend the single amount in it.

Is there any more documentation required apart from "Power of authority, will & Transffer paper" to avoid the disputes from my younger brother in future.

I have read that if i undergone for "TRUST DEED" with proper notary & all, then it cannot be challenged by any one, please let me know your thaughts on this & also let me know is this clause is applicable for the property transfer in SRA projects?

Thanks & Regards,
Vicky Samshri

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2 Replies

Anish Thakur 7018812737 (advocate) 14 August 2012

as this property is counted a s self acquired property by your father so no one can challenge his will ,so his legally valid will is sufficient for transfer of property in your name after him no matter if this property is under sra property.

vickysamshri (PM) 14 August 2012

Thanks for your valued response Anish Thakkur ji,

Please clarify:

Is the "Trust Deed" document is applicable & liable on the SRA (Slum Rehabilation Authority) properties for transferring from one party to another party.

I have a small question, if i make a "Trust Deed" from my father, is there any problem in furture with my brother.

It will be highly appreciated for the help & suggestion.

Thanks & Regards,
Vicky Samshri