Dear Querist,
When the conveyance is executed favouring you and your father as such it is clearily an indicative of both are co-purchasers whether the consideration is paid by you or your father. Accordinly the importance/rightson the property of your fafther is equally enjoyed.
If you are able to demonstrate that i have cleared the payment in such an event you can file a case of recovery against your father that is not the query which is posted, hope so.
Totally the canellation of the instrument can be done in event of any malifides attributed to the transaction like double registration like impersonation etc.,
In your case, I suggest only make gift geed and have a better title other than this it will be futile excercise.
Hope the above had sufficed you.
Best Regards,
S.Sateesh