Dear Sir, no problem, you can transfer as per WILL in your name and you have to entitled to disposal the property as your wish and thereafter your wife can use the land as self acquired property on the basis of Gift Deed, if she disposal to third party that subsequent purchaser can get bank loan.

1. IF the property purchased in 1995 was duly Stamp Duty paid and Registered, THEN you can easily GIFT the same to your Wife, without any further references.

2. IF the property purchased in 1995 was NOT duly Stamp Duty paid and Registered, THEN you may need to regularise the same, BEFORE you GIFT the same to your Wife.

3. AFTER the point no. 2, the new Purchaser can avail of Bank Loan etc....

Keep Smiling .... Hemant Agarwal

In Union Territory of Delhi, probate of a will is not mandatory.

But, it is advisable to obtain probate as it is a seal of authentication by the court that the Will is genuine and is not being challenged by anyone.

Hence, probate should be applied as a matter of prudence even if the same is not mandatory.

Once the will, then you are advised to transfer the said property in your wife's name by way of a gift deed.

Yes, the owner of the property, as per land records can apply for loan with the property as collateral.

1) on basis of GPA father should have executed sale deed in your favour

2) as on date property is not standing in father name

3) approach the principal who executed GPA in father name to execute sale deed in your favour

4) you dont have clear and marketable title to property

5) you cannot transfer property to your wife by gift deed

1. you will first have to get the property transferred to your name

2. for that you will have to apply for a Probate to the Will by filing a probate petition in High Court

3. after you are granted a probate, the executor named in the Will, or in the event there is no executor named in the Will, then the court appointed administrator, will need to transfer the property to you by executing a transfer deed

4. once property is transferred to you, you can execute a gift deed in your wife's favour

5. step no.4 can be skipped if you become a confirming party in the transfer deed in step no.3, and your wife becomes the transferee. This transfer in your wife's favour can happen with the permission of the court, which you should get easily.

6. However you will have to ascertain the stamp duty implication on the aforesaid transfer deed by submitting it to the collector of stamps who will adjudicate the document and determine the stamp duty payable

7. in the event you are required to pay stamp duty as applicable on a conveyance or sale on the aforesaid transfer deed, then it would be prudent to first get the property transferred to your name by executing a transfer deed on a nominal stamp paper and then transferring the property to your wife by way of gift deed, since stamp duty on gift deed is lesser than stamp duty applicable on conveyance/sale deed

8. if you are transferring the property to a purchaser, then he can avail bank loan but the bank will insist for a probate from court

1) First you have to get registered property on your name and than you can transfer the property in the way of gift or sale.

2) when the purchaser wants to purcahse property its called sale deed than the other party will get loan against property.

3) Here you want to Gift property and in gift deed is done without consideration,so loan will not get in gift deed.

Yes, you are free to transfer this property by means of a gift deed.

You are advised to get your name mutated prior to execution of the above gift deed.

Yes, you can transfer the property to your wife by Gift Deed. Kindly tell me whether the property is situated in regularised colony. The party who purchase it will get the sale deed executed in his favour. Now, in chain of title, you have to give him original Gift Deed, Original GPA, Original Will. On the basis of Sale deed in his favour, original Gift Deed, Original Will and Original GPA, the party can get the loan from the bank provided you would prove the ownership of the person from whom your father got the GPA executed by way of documentary evidence.

Dear Client,

Acquisition through GPA, is not complete but can be complete by executing sale deed.

Well, GIFT Deed is valid, loan on such property is not confirmed as through GPA, ownership not transfer and executes to evade stamp duty,

But mostly govt. banks objects, no private,loan will granted.

Dear Sir,

Your proposal is very legal and you can go ahead. The purchaser will get the loan from the bank there is no hurdle.

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List of Loan Against Property Documents Checklist for Self Employed Business Person

Photo Identity Proof: Any One from the following;

Passport

Pan Card

Voters ID Card

Drivnig License

Residence Address Proof: Any One from the following;

Passport

Ration Card

Utility Bill

Residence Ownership Proof: Any One from the following;

Property Documents

Maintenance Bill

Electricity Bill

Office Address Proof: Any One from the following;

Property Documents (if any)

Maintenance Bill (if any)

Utility Bill

Office Ownership Proof (if any): Any One from the following;

Property Documents

Maintenance Bill

Electricity Bill

Business Existence Proof: Any One from the following;

3 years old Saral Copy

Shop Establishment Act

Any Tax Registration Copy

Company Registration license

Income Proof: Latest 3 years Income Tax Returs including Computatin of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,

Bank Statement: Latest 1 year bank statement both current and savings.

Property Documents: Property documents to be submitted based on the purchase of your dream home.

Copy of agreement executed / Sales Deed.

Share Certificate.

Latest Maintenance Bill.

List of documents & sanction letter given by Existing Banker (If Applicable).

Advance Processing Cheque required to process loan documents for sanction.

Investment Proof (if any): please submit if any investment like, Fixed Deposit, Shares, Fixed Assets, etc.,

1 passport size color photograph

See you can gift the property to wife but see the title is not clear as such as GPA is no valid document for sale based on GPA a sale deed was to be made since it was not made either you have to get a confirmation sale deed from the previous owner or alternatively based on will get your name mutated in the property and then make a gift deed

This is what you need to do:

1. First get the property transferred in your name through probate of the will;

2. Once you have received all the ownership over that property and you have all the necessary documents to prove your ownership then only go ahead with the gift deed;

3. Once you have all the papers then you can execute a gift deed to your wife whilst paying the stamp duty and registering the property;

4. Your wife can apply for loan from her bank.

Firstly, you will have to apply for the succession certificate in the court to show yourself as a legal heir.

Secondly, then you will get the same transferred to your name first.

Thirdly, after that you may transfer the same to your wife as a gift but that should not be for any consideration (meaning for no money transaction from wife to you).

Firstly, in this way you may be paying only one time stamp duty after that for gift deed it won’t be taking more than 20K.

The GPA cannot transfer the property by a Will to a third party, be it son.

However since this GPA is coupled with interest, yu may first gt the property transferred to your name by mutating the property and transfer of revenue records and other records.

Thus, on the basis of the original will document and other supporting documents, eg., mutation records, electricity consumption records and water taxes, you can execute a registered gift deed in favor of your wife.

After that she can sell the property to the prospective purchaser, who will become eligible for loan provided he satisfies other conditions for loan.

Hello,

First you will have to get the title transferred to your name and thereafter by means of a will you may gift the same to your wife.

Transferring it directly to your wife will disturb the title of your land.

Regards

Sir,

Since the property has been bequeathed by your father in your favour and I presume there was no challenge to the will, since you have not mentioned any, you can definitely gift the same to your wife.

Regards

You have any legal heirs? Are they objecting or claiming any share. The will needs to be probated. You can transfer the same through gift deed thereafter.