nuclear family - succession

kindly anybody advise please

Kiran,

I will give you my input. Please also continue to get guidance from experts on this forum.

I would recommend getting a Gift Deed done (if you can afford the registration fees) on the value of the Gift.

If you want to defer the registration fees, then you can have your parents write a WILL and REGISTER it. The problem with this is you may face future litigation challenging the WILL.

In your case, better to spend the registion fees upfront and have your parents execute a GIFT deed.

Srinivas

thank you sir.

by the way, if they have written a will, and say there is no challenge, what is the procedure to transfer the name from father to me ? ( in andhra pradesh)

thanks again.

registered will is the best way....

since u r in the possession of the properties any challange made to the will wud not affect u.....

get it registerd ...though registration is optional but its prove of due execution.....

gift deed will cause u very expencive as it will cost about 5 to 7 % of present market value.

in any case the only person who can challange wud be ur sister so will is best option...

sir,

can my sister's husband and / or their children also can challenge the will?

sir,

in case of  gift deed,

1. whether my father can include a claus stating that the gift is valid only after his and my mothers life.

2. in such case if i want to take any loan , is it possible?

3. can he revoke or any body can challenge?

thanks in advance

Sir,

if my father writes a will, i will bequeath all the remaining property (as he already settled to my sister).

In that case can he make me as an executor or exectutor must be another perston?

Please advise.