Me and my father bought a plot in Bangalore three years ago, in the sale deed I am the first purchaser and my father is second purchaser. So in future if i want to sell the property to a third party can I sell without my father's signature after his death or a registered will is required? I have a elder sister. Is her consent also required while selling the plot in future? If a gift deed from my father executed now require my sisters consent?
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On father death your mother , you and your sister would be legal heirs of father 50 per cent share
2) father can execute will in respect of his share in property
3) in alternative father can execute gift deed in your favour
4) gift deed should be duly stamped and registered
5) sister consent is not required for gift deed to be executed by father
Hi
1) Better to get the registered Gift deed executed by your father during his life time as the transfer of property will be immediate.
2) Your father does not need your sister's consent to execute a gift deed
3) In case of a Will, the WILL needs to be probated in court of law after your father's life time and it may be cumbersome and is also likely that your elder sister may contest the WILL in absence of your father.
4) A registered Gift deed is the best option.
5) Alternatively a registered WILL is the second best option, but the WILL needs to be probated in court of law after your father's life time.
Hope this information is useful
1. Your father is the co-owner of the property i.e. he owns 50% of the property.
2. After his demise, you can not sell off his share of the property without being owner of his said share of the property.
3. You shall be able to sell your father's share of the property if he has executed a will bequeathing his said share of the property in your name after taking probate of the will from the Court.
4. If your only sister registers a deed relinquishing her share on your father's share of the property, you become absolute owner of the entire property can sell it off.
5. Alternatively, if your father registers a gift deed in your favour now duly conveying his share of the property to you, you become its absolute owner for being entitled to sell it off. Your signature will not be required by your father for executing and registering the said gift deed.
1. As of now you and your father are joint owners of the property in the ratio of 50% each.
2. During the lifetime of your father, your father's consent is Absolutely essential for you to sell the property as a whole. In case he gifts his 50% share in the property to you then you would become Absolute Owner of the property and you will be at liberty to take a decision as you like.
3. In case your father executes a ' WILL' in your favour in respect of his 50% share in the property then you would become Absolute Owner of the property after your father's death and you would be free to take a decision then. Since 50% share in the property is your father's self acquired property ,for executing the Gift Deed, he need not require your sister's consent.
4.In the absence of your father executing the 'WILL' and also Gift Deed and in the unfortunate situation your father dying intestate, then his 50% share would be subdivided amongst his legal heirs viz.,his spouse( if alive) and his children.
1. Both of you are joint owners regardless of whose name appears first or second. So in order to sell the entire plot you will require the consent of your father unless he executes a relinquishment deed in your favour.
2. If he dies intestate then it will devolve through succession on his heirs i.e widow and children. The consent of your sister will also be required then.
3. Your father requires nobody's consent to execute a gift deed of his share in anybody's favour.
1. after his death you may sell the property with the consent of another legal heir, if there is no will in your favour executed by your father.
2. if your father died intestate then she can be claim her share in the property which is in the name of your father.
3. No, there is no requirement for her consent for executing the Gift Deed
No you can not sell the share of your father without his consent when he is alive. If your father dies without executing a will then his share shall be inherited jointly by you , your mother and sister. Your father can gift you his share of property during his lifetime. There is no gift tax but you have to pay a stamp duty on value of property while getting the said share transferred in your name.
The property is jointly owned property hence he too is having an equal rights in it.
For getting his share transferred to your name, you can ask him to either transfer it by a settlement deed or by a gift deed or by a sale deed during his lifetime itself so that you do not have to share his share in the property with your sister upon his intestate demise.
