ancestral property GIFT DEED
8 months ago
My father partitioned ancestral property among his siblings from the court, and he got two different sites from the partition. He then made a gift deed of each of the sites of me and my brother. Now, I want to mortgage the site which was made a gift deed to me. But the legal opinion is saying that my father should have made a partition deed of those two sites between me and my brother. Should I do a partition deed or is the gift deed made by my father enough?
A.Dear Client,
When an ancestral property is already partitioned as per the Court's order and your father got his shares in the said property after partition, he being the title holder of the said shares in the property can transfer the same to his sons by way of registered gift deed. So, by virtue of said registered Deed of Gift, the donee(Son) being title holder of the property, can mortgage his share for availing the loan from Bank.,
When an ancestral property is already partitioned as per the Court's order and your father got his shares in the said property after partition, he being the title holder of the said shares in the property can transfer the same to his sons by way of registered gift deed. So, by virtue of said registered Deed of Gift, the donee(Son) being title holder of the property, can mortgage his share for availing the loan from Bank.,
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A.Dear client,
It's not possible to sell/gift property before clear title.
No the gift deed is valid before partition.
It's not possible to sell/gift property before clear title.
No the gift deed is valid before partition.
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A.Dear Sir,
You have to follow the instructions of the Bank legal advisors otherwise switch over to any other private bank.
You have to follow the instructions of the Bank legal advisors otherwise switch over to any other private bank.
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