• Inheritance

My residence is being owned by my father and me jointly. My father gave all the finance to purchase the house. Now due to his old age, he wants to register the house fully in my name so that there is no legal problems lather on as is encountered in cases of will being challanged.

What is the most economical method for this. In Rajasthan gift deed attracts 4% registry charges.
Asked 4 years ago in Property Law
Religion: Hindu

6 answers received in 30 minutes.

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18 Answers

1) your father can execute will bequeathing his 50 per cent share in flat to you

2) will should be attested by 2 witnesses

3) in alternative he can execute relinquishment deed to relinquish his share in flat

Ajay Sethi
Advocate, Mumbai
87947 Answers
6207 Consultations

5.0 on 5.0

Hi

Gift deed will be the easiest way to get the property transfered to your name.

Go ahead.

Thank You

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

4.8 on 5.0

relinquishment deed can be executed by your father

Ajay Sethi
Advocate, Mumbai
87947 Answers
6207 Consultations

5.0 on 5.0

Relinquish deed is best option for you in rajasthan.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

After relinquish deed is prepared and registered no one can challange it is valid title.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Your father can also make a registered will for his share a registered will cannot be challanged and after death of father by virtue of will you can get all the property.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Settlement deed or gift deed would be a proper way to tranfer the property right during the life time of settlor. It would avoid unnecessary litigation in future.

Selva Perumal
Advocate, Chennai
329 Answers
36 Consultations

4.9 on 5.0

Get a relinquishment deed registered in your favaour from your father in respect of his 1/2 share. It would be economical and bear only registration charges. Contact a local lawyer in Bhiwadi and get the Relinquishment Deed registered in your favour in the office of Sub Registrar, Bhiwadi.

Dalip Singh
Advocate, New Delhi
1040 Answers
36 Consultations

5.0 on 5.0

1. IRRESPECTIVE of any other options, for ÏNSTANT & Legally SAFEST, option, the GIFT deed, is best way to move forward. This option also eliminates all futuristic claims by ANY probable known /unknown claimants and further also truncates out the change of mind by the Gift-Maker, that is always available, via change of will and challenges therein.

Keep Smiling .... Hemant Agarwal

Hemant Agarwal
Advocate, Mumbai
5612 Answers
25 Consultations

5.0 on 5.0

The answer lies within your question itself

gift deed as of now is the most economical if you intend to have the property transferred to your name alone in your dad's lifetime

as you rightly pointed out that a Will may face legal challenge by other legal heirs and so the property may get locked in legal dispute

so consider the pros and cos and decide for yourself

Yusuf Rampurawala
Advocate, Mumbai
6882 Answers
79 Consultations

5.0 on 5.0

Dear,

As you mentioned that this property is in your joint ownership, then in place of gift deed,

transfer property through release deed presented by your father in your favour.

in Rajasthan release deed attracts 1.5% only.

Tarun Agarwal
Advocate, Jaipur
769 Answers
3 Consultations

4.9 on 5.0

Dear Client,

No need of GIFT DEED as expansive too,

HAQ TYAG, ( Release deed ) is best left option, with 1.5% stamp duty/registration charges.

Or through registered WILL, your father can bequeath his property/share in you. 1000 Rs fees.

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

Your father can make a registered gift deed or a registered will in your favour.

Vinaykumar Kherodkar
Advocate, Navi Mumbai
24 Answers
1 Consultation

4.8 on 5.0

The best way to avoid the the stamp duty is to make a gift deed without any consideration or Relinquishent deed without consideration.

But, it can only be done by your father if he already has a title deed in his name if not then first register the property on your name only as per rule and pay the stamp duty.

Sanjay Baniwal
Advocate, South Delhi
5464 Answers
13 Consultations

5.0 on 5.0

A registered gift deed or a settlement deed shall be the best option for a proper and legally valid transfer of his share in the property to your name to make you an absolute owner with clear marketable title to the property.

You may enquire about the rates applicable for settlement deed for transfer within family/blood relations.

T Kalaiselvan
Advocate, Vellore
78104 Answers
1543 Consultations

5.0 on 5.0

Alternately is there any other method so that this process is not challenged after my father

Any transfer of an immovable property shall be carried out by a registered deed only, otherwise the same is not valid in law and it can be challenged in court.

T Kalaiselvan
Advocate, Vellore
78104 Answers
1543 Consultations

5.0 on 5.0

Hello,

the same can be transferred by means of a gift deed.

Please cross check the registry charges in case of gift deed among the blood relatives

regards

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

It can be challenged, if you think that the same can be challenged by certain person then make them a witness to the gift deed.

Regards

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

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