Property transfer
Querist :
Anonymous
(Querist) 15 October 2020
This query is : Resolved
I am the only son to my father..
My father has a property...
He want to transfer the property to me;
which I say no to him many times.
I understand that the property will come to me after the unforseen happens to my father by default, and
no 'legal will' also required since there is no sibblings who will raise the voice for the rights..
but my father "forcing" me to get it transferred it to my name.. (immediately...)
every day in and day out this is the problem.
can I get any legal solution, from the mental pressure and not to take up the property in my name.
and how can I avoid this situation.
please advise..!! I am under mental pressure and uncomfortable to concentrate on my assignments..
IS THERE any LEGAL solution..?!
Rajendra K Goyal
(Expert) 15 October 2020
This is family matter, decide amicably.
Your father may bequeath a will.
kavksatyanarayana
(Expert) 15 October 2020
You amicably say to your father that if he is pressing you, execute a Will bequeathing all his property to you after his demise. So until then, the property is under the control of your father with full rights. After your father, it will come to you with full rights.
Isaac Gabriel
(Expert) 15 October 2020
Is there any hurdle in fulfilling the desire of your father..? Perhaps he may see you as proud owner, and rejoice.
Isaac Gabriel
(Expert) 15 October 2020
Is there any hurdle in fulfilling the desire of your father..? Perhaps he may see you as proud owner, and rejoice.
Querist :
Anonymous
(Querist) 15 October 2020
Yes..!!
I already having a property and having property income..
if this property is also added to my name.. my tax liability will go up..
I was trying to convince my father.. but failed... nor he is not understanding..
He is forcing me to take the property and do not know the intention..!!
what legal action should I take..!! to save me..
Dr J C Vashista
(Expert) 16 October 2020
What is the dispute involved in the facts posted by you Mr/ Ms. Anonymous for consideration and obligation of experts on this platform?
Rajendra K Goyal
(Expert) 16 October 2020
As far as tax is concerned on the income from property, your father can gift / transfer it in the name of your family member (spouse, son).
Discuss with some tax consultant.
P. Venu
(Expert) 16 October 2020
What is the type of property? What is the problem in paying tax for the income you may earn?
Querist :
Anonymous
(Querist) 17 October 2020
I don't mind in paying tax on my income.. but if this income is also added; I will be in higher tax bracket where the tax liability will be more..
I was stressing this to my father not to transfer the property in my name.. but he is neither listening to it or understand the same.. giving me mental pressure every day..not knowing his intention of transferring it to my name.
I need a legal solution..!! (I can't tolerate any more)
Rajendra K Goyal
(Expert) 17 October 2020
Everyone want to minimize tax liability well within the legal framework. It is right of every tax payer.
P. Venu
(Expert) 17 October 2020
you are yet to reply as to the type of property. Moreover, it is impossible that you could be burdened with property. If a gift, the conveyance is incomplete in the absence of your acceptance. A Will takes effect only after the lifetime of the testator. There cannot be a sale unless there is a willing purchaser.
