Settlement deed nri
MS
(Querist) 08 January 2013
This query is : Resolved
My parents and I are US citizens. They have a property in Delhi that we want to transfer to me through a settlement deed.
I understand that I become the owner of that property as soon as the settlement deed is executed, is this correct? Or is that the case only after their passing away?
Can I sell it immediately and repatriate funds to US? Is there a waiting time involved?
Thanks
-MS
ajay sethi
(Expert) 08 January 2013
gift deed has to be stamped and regd . you become owner of property once it is regd in your name . you are free to sell the property after it is transferred in your name
Raj Kumar Makkad
(Expert) 08 January 2013
Instead of getting gift deed, which requires a lot of stamp duty, you can file a civil suit against your parents and during the trial, you may get execute a family settlement and on the basis of that degree passed by court, you can become become its absolute owner and can do what ever you like.
