Karthik R 06 November 2024

Gift settlement deed

I am planning to buy the property from my mother-in-laws. They were saying that we can do the Dhana settlement(deed) to transfer to my wife as they are the blood relations. My wife has yonger sister, she is ready to sign for witness. My in-laws have some more properly. will I get equal share?

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Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 06 November 2024

Here are some key points to consider:

1. Gift Settlement Deed: This is a legal document that transfers ownership of the property from your mother-in-law to your wife.

2. Witness: Your sister-in-law can indeed sign as a witness, but ensure she is aware of the transaction's details and implications.

3. Other properties: If your in-laws have additional properties, it's crucial to clarify whether they intend to transfer all or only specific properties to your wife.

4. Equal share: As your wife's husband, you may not automatically receive an equal share in the property.

The property will be transferred to your wife's name, and she will hold ownership rights.

6. Stamp duty and registration: Don't forget to pay the necessary stamp duty and register the gift settlement deed to make it a legally

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T. Kalaiselvan, Advocate (Advocate) 06 November 2024

If you are planning to pay consideration amount towards this property then it would be better that you buy it through a registered sale deed which can prevent future litigation.

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Karthik R 07 November 2024

Thanks Rama Chary and Kalaiselvan Sir