You can execute gift deed in favour of trust for your 50 per cent share in property
gift deed should be stamped and registered
Transfer of 50% undivided interest in real estate
A & B own a 50% undivided interest in real property. C & D own a 50% undivided interest in the same property. C & D wish to transfer their 59% undivided interest into a revocable trust. What type deed to use to transfer an undivided 50% interest into a trust?
Asked 4 years ago in Property Law
Religion: Christian
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6 Answers
You can execute gift deed, transfer deed or relinquishment deed too in the above case
C & D can execute a registered gift deed in favor of the trust towards their undivided share in the proeprty.
They can even make a recital stating that if the trust would like to acquire the same at future stage, they may get their partitioned from A & B
As there are four persons each holding an equal undivided share in a property, it will be impractical for any two of them to transfer their combined undivided 50% share to an outside entity such as a trust, though legally possible. Though title and ownership can be passed on by means of a settlement or gift deed, possession and peaceful enjoyment of the property will be difficult for the third party (trust), unless partition takes place and the property is defined and divided by metes and bounds.
- Since the C & D having their respective 50% share in the real property , then legally they can transfer share to trust by way of a registered Gift deed.
Dear client,
A gift deed seems like the best option in your case.
Thank you.
