LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

anil   13 April 2016

Property transfer

Dear Sir, My father purchased a land on mother's name thru his own income (salary) in 1982. He has got three sons and I am the younger one. He wants to give it to one of his son and expects that son to pay the amount to other two sons as per the market value of that property for their equal share, if any. Pl advise me what type of deed to be executed and precautions to be taken to avoid any future legal complications from other two brothers as I am required to settle their dues.


Learning

 5 Replies


(Guest)
Sure I can help you tih executing the same..if you are interested mssgr me

Advocate Ravinder (Advocate/Attorney)     14 April 2016

Your entire family has to enter family settlement deed and it has to be registered before Registration Office, where you can mentions your conditions i.e. to whom this property belongs and to whom your mother is going to give and how much you have to pay to the other sibblings etc. But all the family members should be party to it.  

Anand Bali Adv. (Advocate Solicitor & Consultant)     16 April 2016

I go with the advice of Mr Ravinder as above there has to be a family settlement where the mother has to play a declaring role that how much of which shere she wants to give to any one. It will be tereated as a gift deed in blood relations and will attract very minimal fee on that for the registration of the document and on that basis partition and then mutation with the revenue authority of the competent offive of te municipality this will only happen when the property is a free hold one. Otherwise the lessor also have to be made as a party to this settlement.

anil   17 April 2016

Dear all,

Thank you for the inputs. In case, if any of the brother denies to record the consideration an then what is the way out

My question is yet unclear. Is it gift deed or settlement deed. Or both are same.

Anand Bali Adv. (Advocate Solicitor & Consultant)     19 April 2016

Dear Friend the concept of Benami transations is not at all has to be attracted here in this case the Property is in mother's name and onlt she has the right to Give, Gift, Part or Sale it to any one. As I have told earlier. Father's will is not here to be considered as on point of law however with respect to his wish your mother can act accordingly ( which is not binding on her) there is no question arrises of the will or xconsideration of any of the son or daughter in respect of this property who's absolute owner is mother and only mother in the eyes of law. Please note.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register