Gift deed

This query is : Resolved 
 


Querist : Anonymous (Querist)
21 January 2019

Sir
I am married woman residing in Delhi. My father, a retired person wants to purchase a property for me in Delhi costing around 60 lakhs. He is able to contribute around 30 lakhs and rest of payments to be made by me from my resources. What will be better option considering I hv two married sisters and father does not want to disclose this contribution to them
1 should my father directly issue cheque of his contribution to sellor and show this amount as gift to me
2 or should he purchase 50% of share in the property with me and later on gift me his share throgh registered gift deed. In such case can gift deed be challenged subsequently by other sisters or he himself can revoke the same under their influence
Pl advise


Vijay Raj Mahajan (Expert)
21 January 2019

Let him pay 50% of the amount and rest 50% you pay, both directly to seller. Why making issue of gift for anyone to dispute it, let it be direct issue between you both with seller without involving anyone else.

kavksatyanarayana (Expert)
21 January 2019

Ask your father to contribute the amount in cash to you and then with your savings directly pay the consideration to the seller.

Dr J C Vashista (Expert)
23 January 2019

Let the contribution equal from both of you, there is no need to mention/disclose.
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