simonohara (IT) 27 August 2011

Transfer of property from father to son

Hi,

I live in US and I have sent money for the construction of house for my parents in hyderabad in India. Though the money is mine, the property has been registered on my father's name. I have no problem with that but the problem is my mother who wants to give it away to her brother's family after my father passes away.

My father is of the opinion he should do a transfer--irrevocable to my name. What is the best way to do so.

Is it by gift or will or sale(though no money is paid by me again!!!)

Please advise.

Regards,

Simon

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3 Replies

simonohara (IT) 27 August 2011

Also, I am on a dependent visa in US and when registering the property should it be as an NRI or resident in India

Thanks again,

Simon

Sandeep Bhargava (Advocate & Notary) 27 August 2011

If your father is of the opinion he should do a transfer--irrevocable to your name the best way to do so is to execute a gift deed but it will be expensive , if your father execute a will in your favour it can be changed by your father any time before his death

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simonohara (IT) 28 August 2011

Thanks for your valuable info sir.

My other question would be:

What address should mine be--India or US --I do not have Greencard yet but it is in the process. I am on Non-Immigrant visa in US.

Regards,

Simon