after deed of family settlement has been executed by you your father is absolute owner of said property . i presume said document is duly stamped and registered .

he is free to execute gift deed in your favour . no limitation period arises in such a case .

if however ownership is retained by donor and possession is not handed over to donee gift would be invalid .

if at all your father wants to retain the property for his use he can make a will in your favour .