Gift deed of immovable and movable assets
Hi,
My mother owns some fixed deposits and a house in Bangalore. My father expired last year. All the property and fixed deposits which were in my fathers name was transferred to my mothers name. I have an elder sister but I am responsible for my mothers care and her financial handling. My mother wishes to split the property and fixed deposits by two to both children after death. As I live abroad and I may take up foreign citizenship, I would like to get fixed deposits and house as gift deed, so there is no confusion in the future. My question is can a future clause of ownership be applied in the gift deed. My mother wishes the property ownership stays in her name till her death.
Asked 8 years ago in Property Law
Religion: Hindu
The real issue here is my sister is unstable ( only 12th pass) and has constant issues with her husband. My mother is staying in my duplex house which I had willingly let my parents stay when I moved to a foreign country. There is no rent payment which we were OK with. Recently my sister had moved out of her husbands house again and had an illicit relationship with another man and was staying in my house for a while. Now the husband and wife have sorted out and have decided to stay together for the sake of kids. But this could be a reoccurring problem. I did not come to know about all this for about 4-5 moths although I am in contact with my mother. Considering these issues may occur again I thought it's better to get a gift deed. I am not interested in immediate possession. I can spend for my mothers care and let her live in my house and then settle the financial matters gracefully after death. Will I read that it can be changed. So if there r issues from my sisters end then the will may change. I have acces to my mother bank accounts and have kept track of all fixed deposits from many years even before my fathers death. Her transactions were clean until now, there was issues after my fathers death where the car was transferred to my sisters name by my mother.
Asked 8 years ago