Property transfer
4 years ago
I have a parental house land in Kaimur district (Bhabua) Bihar. I Want to transfer it to grand sons of my uncle. How to transfer it?
A.Dear Sir,
Just execute Gift Deed in their favour and register it.
Just execute Gift Deed in their favour and register it.
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Rameshwar Dadhe
Responded 4 years ago
A.You have options sell deed or gift deed or will deed . Any one if this property are self acquired then only otherwise no
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A.Hello.
Hope you are doing well.
However, you can do so by a gift deed, WILL, SALE.
WILL::: Involving a Will in this will get a lot of legal hassle since they will have to get a Probate and there are chances that any person may raise objection and that will then convert to a suit and then it will go long.
SALE::: You can sell it to them. But if he is minor, he wont be competent to sign so basically the uncle will have to sign on their behalf and shall manage it on their behalf. But in practicality, there are high chances of they dealing with the property without the consent of the minor since they are not competent. And later very few raise objections.
GIFT::: You can gift it but if they are minor, the uncle will sign on their behalf and accept. Why accept? because acceptance is an essential element of the a gift deed. So your uncle can manage the property till they get major. And there are less chances of uncle being able to deal with it because its a gift deed. The confers complete ownership and court has held that once a gift deed is made cannot be revoked unless it is said that there was some influence.
See these 3 cases and do as it fits your situation.
ALL THE BEST.
Hope you are doing well.
However, you can do so by a gift deed, WILL, SALE.
WILL::: Involving a Will in this will get a lot of legal hassle since they will have to get a Probate and there are chances that any person may raise objection and that will then convert to a suit and then it will go long.
SALE::: You can sell it to them. But if he is minor, he wont be competent to sign so basically the uncle will have to sign on their behalf and shall manage it on their behalf. But in practicality, there are high chances of they dealing with the property without the consent of the minor since they are not competent. And later very few raise objections.
GIFT::: You can gift it but if they are minor, the uncle will sign on their behalf and accept. Why accept? because acceptance is an essential element of the a gift deed. So your uncle can manage the property till they get major. And there are less chances of uncle being able to deal with it because its a gift deed. The confers complete ownership and court has held that once a gift deed is made cannot be revoked unless it is said that there was some influence.
See these 3 cases and do as it fits your situation.
ALL THE BEST.
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Shreyash Mohta
Responded 4 years ago
A.By way of a Gift Deed.
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A.You can give the property by way of registered gift deed.
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