Easy and secure way to transfer property
my father purchased a land on my uncle's name and built a house on it...its been 15yrs..but last year my uncle started creating problems that he want his property back but home was built and purchased by my father.. but its all settled now and agreed to transfer it on my father's name..but the main problem is that few lawyers suggested my father to register the plot as "daan(donation)" but few says in daan process later on my uncle's kid can raise problem in future, they suggest to transfer it through process of sale and purchase..as "Daan" process is less costlier and sale -purchase process is costlier.. we are really stucked here..plz give a solution.. we dont want any problem in future..
Asked 1 year ago in Property Law from Singrauli, Madhya Pradesh
1) uncle can execute gift deed in favour of your father . it would attract concessional stamp duty . gift deed has to be duly stamped and registered
2) in case uncle executes sale deed in favour of father your father would have to pay consideration for purchase of the property. it would attract higher stamp duty . sale deed ahs to be stamped and registered
3) gift deed is better option
1.He should get a gift deed registered to avoid stamp duty.
2.if there is an apprehension that the legal heirs will create problem in the future and in th context of an existing dispute ,it is advisable to pay stamp duty in market value and register it
A gift deed once excited between th parties no third party can challenge it unless to prove there was afraid and force involved.
Hi, You have to register the property through the gift deed only, nothing will happen as per law it will become self acquired property of your uncle so he can transfer to anybody so that his legal heirs have no right to challenge the same.
When the house is registered in favour of your uncle then he may execute a gift deed in favour of your father to pass the title to latter. Since the property is his self acquired in character his legal heirs shall cease to have any right to it if he transfers the title thereof during his lifetime.
If you anticipate any problem in this regard in future, better go for registration of sale deed instead of gift deed. The stamp duty may be bit more than that of the gift deed, but the property will be safe and secure without giving room to any litigation in the future in any form and from anyone.
@Mr. ajay sethi:- in this gift deed process can his sons later on claim any right on this property. or can drag us to court or uncle himself can create any issue in future??
Asked 1 year ago
1) once gift deed is executed in favour of father duly stamped and regd he would be absolute owner of property
2) even if sons or uncle challenge gift deed chances of success would be bleak
The proposed gift deed is always unsafe and vulnerable to future litigation owing to the prevailing circumstance.
A registered sale deed can be a safe position if you would like to have smooth sailing.
Think and act wisely because you should not become penny wise and pound foolish.
A gift deed can be challenged only on the ground that the gifted property was not the self acquired of the donor or that it was executed without free consent by the donor.
gift deed is better than sale deed because there is no dispute regarding property. you have to pay less tax than sale deed. no one claim any share in gifted property because once gift is accepted by the donee in the life time of donor it transfer becomes absolute in favour of the donee.