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gift My shops property to sibling
2 months ago
I have 2 shops which are never used and are closed for last 25 years. After marriage I moved out of Goa and don't need these closed shops. I want to GIFT this property to my only sibling he is a retired, so that he can use it or sell it whenever he needs money. What is the procedure and how can I give him the rights so that he doesn't have any problems in future to dissolve the property.
A.Dear Client,
If the shops are your self-acquired property, you have the legal right to gift them to your siblings. To formalize this transfer, you can execute a Deed of Gift. It is a legal document that outlines your intention to gift the property to your siblings and includes details about the property and the terms of the gift.
To make the gift legally enforceable, it is essential to register the Deed of Gift with the appropriate Registering Authority. Registration adds an additional layer of authenticity to the transaction and helps in avoiding potential disputes in the future. The registration process involves submitting the deed along with relevant documents to the local sub-registrar office.
If the shops are your self-acquired property, you have the legal right to gift them to your siblings. To formalize this transfer, you can execute a Deed of Gift. It is a legal document that outlines your intention to gift the property to your siblings and includes details about the property and the terms of the gift.
To make the gift legally enforceable, it is essential to register the Deed of Gift with the appropriate Registering Authority. Registration adds an additional layer of authenticity to the transaction and helps in avoiding potential disputes in the future. The registration process involves submitting the deed along with relevant documents to the local sub-registrar office.
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A.Dear Client,
If the shops are your self-acquired property, you can gift it to your siblings by executing a Deed of Gift and registering it with the Registering Authority. Reach out to an Advocate for guidance and steps.
If the shops are your self-acquired property, you can gift it to your siblings by executing a Deed of Gift and registering it with the Registering Authority. Reach out to an Advocate for guidance and steps.
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