execute conditional gift deed in favour of minor grand children wherein you would be able to enjoy property during your lifetime and on your demise grand children would be absolute owner of property
2) gift deed should be stamped and registered
I want to gift a house to my daughter's children but their father has been careless with money and in the past misused gifts given to my daughter. I want to make sure the house we give as gift to them cannot be misused by their father. My daughter has mental health problems and cannot be trusted as well. We are afraid my son in law will mortgage or sell the home and again blackmail us for more dowry. Is there a way we can gift the house to our grandchildren but it cannot be mortgaged or misused in any way.
My grandchildren ages are 4 and 6. I want neither them nor their parents to sell or mortgage the house until they become adults.
execute conditional gift deed in favour of minor grand children wherein you would be able to enjoy property during your lifetime and on your demise grand children would be absolute owner of property
2) gift deed should be stamped and registered
Dear Client,
If child is minor than without court order, sale/mortgage is illegal. Whats your age and child age ?
See you can make a gift deed to grand children keeping yourself as legal heir or somebody you trust as in that case property cannot be sold by him. Further a minor property cannot be sold without permission of court.
See if you gift them and be the legal guardian as minor they won't be able to sell same and neither there father can sell it.
You can gift it to them without their parents being guardian to decide about the said house. If the grandchildren turns above 18 yrs and then wants to sell the same nothing can be done. You can also execute a Registered will for the same in their names and put a clause that it will only be bequeath them when they turn major and the parents cannot sell,lease, or create any rights towards the said house.
1. you will first have to file a guardianship petition for appointment of a guardian
2. as you say that your grandchildren's father is reckless, you will have to describe in detail all events of recklessness by the father, in your guardianship petition, to exclude the father from being appointed as guardian. Father is the natural guardian of the children. But in your case you will have to apply to court to appoint you as guardian and not the father
3. once court appoints you as guardian, you can make a gift deed in favour of your grandchildren. In this gift deed you will be signing on behalf of the minors in capacity of their guardian
4. also as the donees are minors, the guardian will have to take care of all expenses and outgoings of the gifted property so that the minors as owners do not incur any liability. You will be bound to bear such outgoings till your grandchildren turn major
5. another option would be to make a Will in favour of your children and give this Will to a trusted person who would announce the Will after your demise and take steps to transfer your property to your grandchildren by proving the Will as your genuine and last Will
My age is 60 years while my daughter and son in law ages are 32 and 30. My grandchildren ages are 6 and 4.
in alternative execute will bequeathing property to your grand children
will should be attested by 2 witnesses
You can execute conditional GIFT deed that when children will age of 25 years than gift will effective and in case your demise before that, than gift deed will effective from same day.
Till children is minor, any sale without court order is illegal and when children become major can get the sale cancel through court within three years.
It is not advisable to put it directly in their names as given their age, they would require to be represented through a guardian, which in your scenario would have to be their father. In this scenario, the best solution in my opinion would be to set up a trust for the minor children which would ensure that they get the property after they turn a certain age.
Dear Sir,
Please refer the following law about gift deed to the minor
Gift Deed in Case of Minor
Any person who owns the property can make the gift deed in favor of anyone but there is an exception to this rule.
In the cases in which either a donee or donor is a minor, minors are not eligible to contract so, they cannot transfer property as a gift.
Guardian acts as a manager of the property gifted to the minor and if the gift is burdensome, the responsibility of the gift cannot be enforced on the minor until he/she is minor. Once the donee becomes major he may either accept the gift or return the gift back to the donor.
With out permission of the concern jurisdiction court they can not sell, mortgage minor's property, if they want to mortgage minor's property for welfare of the child theyneed to file a Permission petition before the district court to obtain permission
Yes a gift can be made in favour of them making yourself as legal guardian in respect to said property.
1) You can make a WILL on your grand children names and registered with registrar in your local area. Send a notice to all registrar or sub registrar office in your property area district. So the property won't be able to mortgage or sell till your grand children become 25 years if age atleast.
hello
you can give them the property through a will. in this way, they will own the property after you and till you are alive your SiL cannot misuse the property.
regards
There is no problem in giving gift to your grandchildren and in the gift you may put conditions which is favourable to the children and the transfer of the property can only be affected by the children at a certain age when they are adult.
Till you are alive you will be the custodian of the property and after that the property bill be taken care by the son in law if childrencare minor with conditions that he will have no authority to sell are transfer the property or can make any mortgage in any form and the income from the property will only be used for the benefit of the children.
You do not need to worry, if you are gifting your grandchild any property who is a minor as permission of the court would be required to create any third party interest on a property which is in the name of a minor.
Alternatively, you can execute will in favour of the children which should be register and stamp having a condition that the beneficiaries would get the property but no third party interest can be created on the property until and unless both the beneficiaries turn 18 years of age or trust can be set up in favour of the children.
The property on the name of minor children cannot be sold or alienated or mortgaged by the guardian without court's permission.
However to be on the safer side, you may put yourself as guardian to the minor children so that they can acquire the property after they become major by age
Then you may place yourself as guardian or your wife as guardian to the minor children, or can execute a conditional settlement deed in their favor with the condition that you will be having life interest in the property and thechildren will be able to acquire the property after your lifetime.
If you dont trust your son in law or if you cannot handover the responsibility to your mentally unstable daughter then it would be better you execute a registered settlement deed as suggested in the previous post or mak a Will bequeathing the property in their favor which will be a more safer option.