Father wants to give property to sons
ALLU
(Querist) 27 January 2016
This query is : Resolved
Hi,
My father would like to give his property in the TIRUPATI town :(A.P); to us(Two sons) as 50-50 share .
How can we proceed for that ?
1)will or 2)gift or 3)sale deed
Note :
Our house not yet registered , but we have been living since 20 years .
we have documents from approvals of planned layout from local authorities
Rajendra K Goyal
(Expert) 27 January 2016
In whose name the land / property is at present?
In absence of proper title / sale deed in his favor your father is not absolute owner.
Get the property registered in the name of your father.
Later consult registrar office to find out whether gift to family member if free from stamp duty or not or attract negligible / full stamp duty.
If no concession is available, it is better to write a will.
Devajyoti Barman
(Expert) 27 January 2016
If this your father's self acquired property you can transfer the same through gift deed though I would suggest him to execute Will to safe his future.
Kumar Doab
(Expert) 27 January 2016
Agreed with Experts.
Adv. Yogen Kakade
(Expert) 27 January 2016
Property which is not registered in the name of your father cannot be transferred anyways.
