Gift/transfer lease-hold property

The facts posted suggests no problem or legal issue.

First of all the Father has to get the plot mutated to his name, subsequently he can execute a gift deed as per his wishes.

Thanks Mr Venu. This property is in north Karnataka. The parent agreement (year 1959) between the housing cooperative society and buyer (grand father): buyer is referred as a "tenant" and the society is owner of the plot. The "tenant" has rights of enjoyment of the said property for 999 years. 1.Now Can the lease-hold plot be gifted to his children by father? 2.Can lease-hold plot be divided as two separate plots? 3.Does the gift deed needs to mention about the housing society as the owner of the plot & the donor is only a tenant for 999 years? and the doner is transferring his rights only to the donees? 4.OR in the gift deed can the doner be titled as the absolute owner and is gifting. without any reference of the housing society, as the father has the city survey records for the plot in his name. Also all taxes for the plot are paid by him and all bills are under is name. 5. Will the society have any objections on this gift deed? is a consent required? 6.Is the City Survey record over and above the society records (membership and shares)? Appreciate your time and guidance.

Dear Mr Kishor, The City Survey records (revenue dept) for the said plot are like this

1. Holder in = co-operative housing society

2. Lesse = as per original parent deed registered dated so & so..

3. Father's name appears as legal heir & successor 

Appreicate your guidance and time.

Submit thr death certificate of the demised person to the society and get the share certificate transfered to the name of the legal heir. If the is any registered document in relation to the plot of land, get a deed of assignment in the name of the legal heir.

Father is alive and wants to gift deed the plot during his life time only, by spliting it into 2 parts for 2 sons. 

So

step- 1 will be to get gift deed registered 

Step-2 will be apply to the city survey records updation based on the gift deed

step-3 apply for bifurcation at city survey

step 4- based on the new city survey records & request letter from present member  -society will add the 2 sons as members and transfer the shares to their names.

society had originally allotted 5 shares and every member who owns plot should have 5 shares. Now after spliting the plot into 2 parts what happens to the 2nd son B ? only one of them can be a member with 5 shares. So how will the other part A be accepted by society with out shares? 

Kindly guide sir

In the given facts, fatjer (shareholder and tenant) need to obtain prior permission from society before he gifts his tenancy rights equally in favour of his two sons and further its division in equal shares. Once permission is obtained, gift deed of tenancy rights should be got registered which should form part of society rand municipal ecord. Need not mention that a person cannot transfer better rights which he is holding. The sons shall also remain tenant like their father in such event.

The plot can be sub-divided only if such sub-division is permitted in the terms of the original lease deed with the society, usually such sub-divisions are not permitted in long term leases. However the plot can be owned jointly. Your father should first get the plot mutated to his name and then execute a gift deed in favour of his sons in the proportions that he wishes.

How the Society has come in possession of the property? Is it a Housing Cooperative Society?