Inheritance of father's inherited property
This is Ashwin, my Father inherited property from his Father's self earned property (my Grandfather earned the property), My Grandfather's property came died without a will and his property remained joint property and recently got divided among his children and a partition deed was registered, my father being on of them got his share which is registered in his name, now my father wants to give his share to one of his children by means of will or gift. Are other children and his wife entitled to property if he does not want to give them any share ? Is it considered ancestral property or is it his property as it got divided and is registered in his name ? will there be any difference if he gave it by way of will or by gift deed.
Asked 2 years ago in Property Law from United States
1. After the partition between the children of your grandfather your father is the absolute owner of the property which he received through partition. As a corollary thereto, he is at liberty to gift or will it to anyone he desires. He has the freedom to discriminate among his children at the time of transfer of his property.
2. The property is not ancestral.
3. The will would become operative after his demise, whereas the gift deed will immediately result in the transfer of ownership.
No it does not qualify for ancestral property. He can give it to anyone he wishes while he is alive or even leave it as bequests in a will to one of his own choice. Others can't challenge it without a proper ground.
Will comes into effect only after a probate is granted by the court which can happen only after the death of the testator. A gift stands transferred immediately after execution of the deed and transfer of possession.
1) your father can execute gift deed for his share of property to any son if he so desires
2) it is not ancestral property
3) gift deed is better option and attracts nominal stamp duty in many states if made in favour of close family member
4) will takes effect on death of testator while in gift deed title passes on execution of gift deed
The property inherited by your father on the basis of a mutually agreed registered partition deed and also since the property was his father's self acquired property, your father becomes the absolute owner of the share of the property so inherited.
In this property since your father has absolute and marketable title and rights over it, he can transact with the property in his hands in any manner including disposal or transfer by settlement or gift or sale to any person of his choice and in the manner and mode he desires or proposes. He need not take anyone's permission or consent for this. Neither his wife nor his children have any rights in this property during his life time and after his demise, if the property remains intestate they may claim a share as a legal heir.