Transfer property to Son and Sister
My Grand ma age is 70,Now she want to transfer property to 3 son and 3 sister with some condition
No one can sale,
they only live and Construct if need
Electricity bill paid by individual,water tax,house tax,sewage tax paid by each son individual
so please tell me which deed is suitable for future.
Asked in Property Law from Varanasi, Uttar Pradesh
1) grand mother can execute a will wherein she bequeaths her property to her children .
2) she can impose condition that during their lifetime children cannot sell the land
3) the will should be attested by 2 witnesses and registered
A settlement deed among all the family members can be executed to give effect to her wish wherein all the conditions envisaged by her may be incorporated.
1. Your grand mother can make a settlement deed in which she can put a clause that the property should not be sold and the condition that Electricity bill paid by individual,water tax,house tax,sewage tax paid by each son individually.However the restriction can be effective till her life time .
after her death the property shall be divided among her children according to the law where all legal heirs get the share which each one can dispose their share as they want.
2. The division can be done either through a family settlement deed which can be also a registered one or else a deed of partition
3. Your grand mother can also gift which is an absolute transfer as it is signed.So depending on the need you will have to decide how he division can be and accordingly a deed can be registered to complete the division and transfer.
4. If grand mother does not want to divide it by way of a partition, a settlement deed signed by all with the above condition of your grand mother can be made.However for the final division of the property a registered deed of family settlement or partition is necessary
In any family arrangement there can be no restriction for sale of property permanently for ever. She, if has marketable title to the property can bequeath the property to the beneficiaries with the conditions she desires to impose in it accordingly by executing a Will which can be registered or not but has to be attested by two witnesses.
Another step is by executing a registered gift or a settlement to the children accordingly in which also she can impose the said condition.
Hi, your grand mother can execute conditional gift that they are not entitled to sold the property. It is valid gift, so that she will able to dispose of the property.