Hello Sir,
My father being a retired central govt service and he is a registered member in one of their housing society. He is being alloted a site and registration is due this friday. I've paid all the dues/money for the purchase of this site on his behalf right from 2005 till today (through cheque/DD drawn by me in nationalized banks). Here are my questions :
1. My father wants the site to be registered in my name but the society folks are not quite agreeing for this, and they are suggesting us to go for the joint registration and my father is not willing to do so for his own reasons (could be because of issues while availing loan for construction/ issues while selling the property as both joint owners sign is needed/ or because I've two elder sisters and may be worried about the law issues affecting me at a later point of time).
How should we go about this ?
2. One of my friend suggested that he can give an affidavit issued from a notary to the Society asking them to register the site in my name. Are there any repurcusions or side effects or issues if we take this approach.
3. Someone suggested that my father should go and register the property in his name, and do a gift deed to me. What are the repursions/affect of this from my sister's side ?
4. How about registering the property in my father's name and having a will registered stating that the property be issued or transferred to my name at a later point of time. Prons/cons here ?
Please let me. Appreciate your quick suggestions here.
Thank you
Raghu
