• How to transfer property from father to son

 My father is 74 yrs old and my mother is 73 yrs old. Previously he had three houses. Recently 1 yr back he sold a house and use that money to buy a new flat jointly with me.For that flat I am the first owner and my dad is the second owner, But i am paying the EMI for that flat. He also have two other house in kolkata. Now he wants to give the said flat and one house to me and the other house to my only married sister.My sister is not happy with his decision and she can oppose it. So what is the appropriate and legal way that my father can fulfill his decision and simultaneously I will not facing any problem in future from anyone?
Asked 1 year ago in Property Law from Kolkata, West Bengal
Religion: Hindu
your father can execute gift deed in your favour 

2) gift deed should be duly stamped  and registered 

3) in the alternative your father can  execute will wherein he bequeaths his share in flat and one house to you and one house to sister
Ajay Sethi
Advocate, Mumbai
44334 Answers
2575 Consultations

5.0 on 5.0

Your father may execute a gift deed in respect of his share in the jointly owned house and the other house. During his lifetime he is free to dispose his property in the manner he desires. The gift deed requires mandatory registration.
Ashish Davessar
Advocate, Jaipur
22966 Answers
631 Consultations

5.0 on 5.0

Your father can transfer the property either by making a registered family arrangement to both  of you as per desire.  

By this she cannot raise any dispute at any stage.

Alternately he can transfer the property by executing a registered gift deed to both of you again as per his desire.
T Kalaiselvan
Advocate, Vellore
34508 Answers
372 Consultations

5.0 on 5.0

1.You are already joint owner of the flat which your father had purchased by selling one of his properties and for which you are paying the EMIs now,

2. Among his other two flats, he wants to gift one each to you and your sister,

3. He shall have to gift his 50% of the jointly held flat also otherwise your sister can claim 50% of 50% of the said flat if your father dies without writing a will,

4. Now, to make things simple for all of you, your father should execute and register the Gift Deeds gifting one house and his 50% share of the flat to you duly mentioning separately that he had willingly paid the initial amount towards part payment  for purchasing the flat which will go to you and you have paid the balance amount by paying the EMIs,

5. She can also execute and register a gift deed for transferring the remaining house in favour of your sister if she agrees for the said gift. She can not oppose to your fathers said decision to deal with his properties as per his wish.
Krishna Kishore Ganguly
Advocate, Kolkata
18157 Answers
438 Consultations

5.0 on 5.0

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