Dear Experts
The house that I reside in was purchased as a Leasehold Property in name of my Grandmother, who expired in 1984 without writing a will. She was survived by my Grandfather, her son i.e my father and her daughter i.e my Aunt. Therafter my Grandfather also expired in 1994. Later in year 2000, my aunt gave a registered relinquishment deed in favour of my father and my father got the leasehold property converted into Freehold property and has a COnveyance Deed in his name now.
My father has two children - myself (son) and my sister who is now married. My father now wants to transfer this house in my name. Can you suggest the best way of doing this. Would a Registered Will be sufficient or should he give a Gift Deed in my name or should it be a Settlement Deed. My father does not want to involve my sister in this act and I am wondering which would be the best way which will give me undisputed ownership rights to the house, later on. I have following questions as well:
1. Is the property held by my father considered to be an ancestral property or Self Acquired Property.
2. Can he legally gift this property to me alone. Can he also write a will or a Settlement Deed? Does Settlement Deed need to be signed by my sister?
3. Does my sister have any right to the property?
Regards
