Don’t transfer property in father name
he would spend it on girls or lose it to financiers
Paying off fathers home loan
My Dad defaulted on several personal loans and mortgaged his property with the private financiers . In some cases he had to transfer the property to the financier because of his inability to make the payments .His business started failing and to sustain, he took personal loans again from every possible bank along with local financiers just to pay off one loan to the other person still going on for 30 + years . He always wanted to extract money from us and left all his children and family with no means of income . We are 5 sisters and 1 brother ( everyone went through several mental trauma and my father always extracted money from our incomes too to pay off his debts from the past 20 years . My father has always been a womanizer till now even at the age of 70 he is spending money on different women and not just one ( every 1 or two years there is a new woman in his life ) . Our mother passed away in all these mess and Now my brother is providing him monthly allowance of 25 k for his living and recently he took a new car loan of 9 lakhs and has full time Maid and a house provided by my brother for him to stay so that he doesn’t have to pay the rent . I found out that he has 25 lakhs of debts in his name now . We all managed our own education, marriage and not even one penny was given to us by our father . We faced so much hardships in life since childhood where my father was on the run to escape debtors on many occasions. We suffered mental trauma as our father was abusive and would beat us and make our lives hell and we never had a normal life . Now the story starts before 4 years , My father had this land which was mortgaged with a private financier , the loan amount was 25 percent of the property value ( risking in lakhs of money ) I went through a lot of trauma finding the property to negotiating with the lender. All other sisters didn’t want to involve and stayed away from this because they said that they would not want to experience another financial mess . Finally , I and my brother together saved the last piece of land from a financier who demanded more money and We settled it from our personal savings after settling all other loans of our father . The land was transferred on our joint name after lots of struggle. I went through lots of trauma dealing with it all alone since 2 Years . It was not easy to contribute your time and mental health . My only goal was to live a debt free and decent life for our family andto recover our personal savings which we spent on him all these years . We sold half the property and cleared some debts now the other half my father is demanding to be transferred on his name . I don’t know what would be the right thing to do ? Should I give him and our other siblings a share of the property as this was legally registered on our name ( not a gift from our father ) . I and my brother are the on risked our money for this and I don’t know what would be fair and lawful to do.kindly help
Asked 2 years ago in Property Law
Religion: Muslim
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8 Answers
Should I and my brother give 20 percent of property share to my other 4 sisters and my father ( to clear his remaining debts ) after we sell it ? Thanks .
Asked 2 years ago
It is better to pay off your father debts from sale of property and keep sale proceeds in deposits and use the interest to maintain your father
don’t give any share to siblings and father
If the property was transferred to your name and your brother name by a registered sale deed, then it becomes your own and absolute property.
Your father cannot demand it back legally.
Besides, you can always refuse to repay his loan or debts, the responsibility will lie on your father and not on his next generation children.
Legally you are not bound to transfer the proposed 20% share to anyone neither you are all required to clear your father's debts for any reason.
However you can decide about the proposed task based on the prevailing circumstances
Without gift deed, father is actual owner. Better sell the land and silently purchased another property without anyone's knowledge.
As you said about your father, he is mean and will certainly mortgage the property and more losses to you. Better disown him.
Yes you can share if they are legal heirs
Dear client,
I'm sorry to hear about the difficult situation you and your family have been through. Dealing with financial and familial issues can be extremely challenging. It's important to note that I am an AI language model and not a legal professional, but I can provide some general guidance that may help you.
Given the complex circumstances and the emotional and financial investments made by you and your brother in saving the property, it would be advisable to consult with a qualified lawyer who specializes in property and family law. They will be able to provide you with personalized advice based on the specific laws and regulations applicable in your jurisdiction.
In general, when it comes to dividing property and settling debts, the laws and procedures can vary depending on various factors, including the ownership structure, applicable inheritance laws, and any existing agreements or contracts in place. A lawyer can help you understand your legal rights and obligations and guide you through the decision-making process.
It may also be beneficial to consider involving a mediator or family counselor to facilitate communication and understanding between family members during this challenging time. They can help facilitate discussions and negotiations to reach a mutually agreeable resolution.
Ultimately, the decision regarding whether to give a share of the property to your sisters and father to clear the remaining debts would depend on various factors, including legal considerations, financial implications, and family dynamics. Consulting with a legal professional and potentially a mediator can help you navigate these complexities and find a solution that is fair and lawful.
- Under the Muslim Law, the legal heirs are not under obligation to discharge his father's debts and it should be paid from his estate.
- Further, if the debt is purely personal debt of the father, then it cannot be passed over to the legal heirs.
- Further, if you got property of father both movable or immovable properties through inheritance then only, your liability to pay the debs, after selling those inherited property.
- Hence, if that transfer of property in your joint name was done by a gift deed without any consideration amount , then you can be accountable for the debts.
- Further , during his life time , you are not in burden to reimburse his loan amount .
- Further, if that transfer was by way of sale deed , then you both become the legal owner of the property and you both are not under obligation to refund his loan amount .
- Further, if the gift deed or sale deed is registered then it cannot cancelled.
