Gift property
Priya
(Querist) 31 May 2008
This query is : Resolved
I have a plot and a house [three seperate in a building] registered in my name. As this is the only asset that our father has left for us i want to give one house each to my sister and brother. My father is alive.
Your expert's opinion was that property cannot be transferred without the consent of the transferee, except will. But i want them to have the property during my lifetime.
Also by your expert the property can be transferred by executing partition deed, the draw back is that I have to accept the property as joint family property. What is the procedure to do this?
I would also like to know how i can transfer the property as gift to my brother & sister. Do i need their consent even for this and what is the procedure?
R.S.Rajesh
(Expert) 02 June 2008
Please note thast this querry is answered based on the facts furnished by you as above.
You are the Regd. Owner of the properties and the same can be trnasferred in favor of your brothers/sisters by way of gift without the consent of any one since the property is allready registered in your name.For this purpose the gift deed is to be executed and registered wherein you are the Donor and your brothers/sister is the Donee.
If the property is to be treated as joint family property, the same should have been brought to the hotch pot of the joint family property and treated as joint family property. While drwaing up the partition deed ,in the recitals it should be mentioned since how and from what time/period the same was brouhgt and treated as joint family property. Otherwise the property can be gifted as stated above.
