Rama 03 June 2017

Property transfer through gift deed or will to our name

Dear All,

We bought some land from one of our knwn uncle and now they have long disutes with his 6 brothers..

Now as he is 75 years old and our delaing is completely unknown to his sons and daughter..His son and daughter also dont bother for his fathers landed property, as they are will established and well educated..

But still as uncles old and their disputes is running for a long time, so we thinking to make a gift dead in our name..

My query as,

- the property receivedin gift dead from my uncle and claim by his son / daughter in future?

- Is it a good idea to take all properties as gift dead or should we wait until make a sale dead after few years (but uncle is very old, so we scaring if some thing will happen to him?)

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3 Replies

Ms.Usha Kapoor (CEO) 04 June 2017

iT'S BETTER YOU TAKE ALL PROPETY BOTH MOVABLE AND IMMOVABLE THROUGH A REGISTERED GIFT DEED AND ONCE THE PROPERTY IS TRANSFERRED THIS WAY IT WILL BWE ALL YOURS AND YOU WILL BE FULL OWNERS OF THE PROPERTY.ON THE GIFTED PROPERTY SO TRANSFERRED TO YOU.You would get absolute rights of ownership over the property.Your uncle's children now or in future have no legal right to the property gifted to you by your uncle.

GANDHI MOHAN BHARATI (Pensioner) 04 June 2017

I agree with Ms.Usha Kapoor.

A Will can be changed. Make sure that the gift deed is a irrevocable one.

Once Registered take necessary ation for mutation etc.

P. Venu (Advocate) 04 June 2017

Execute the gift deed if no consideration was involved and a sale deed, if consideration was involved. The children have no claim over the property of the parents unless the property is ancestral.