settlement deed

Querist : Anonymous (Querist) 17 December 2010 This query is : Resolved
R/experts,
My father have ancestral plot admeasuring 5000 Sq.Feet in Maharashtra State.Now my father decided to give me half plot to me.Which method should I adopt to mutate this half area on my name in property card? Which is the proper way for this,either settlement deed or gift deed?Which act and section is applicable for this alienation?

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R.Ramachandran (Expert) 17 December 2010
Before answering your query, please indicate as to how many son(s) and daughter(s) your father has?

Raj Kumar Makkad (Expert) 17 December 2010
it is better to have a settlement deed executed wherein your father can declare entire sons/daughters and their share and all concerned may put their signature thereon so that no future dispute may occur.

Querist : Anonymous (Querist) 17 December 2010
R/experts,
I am the only son and if I got this half share after settlement deed can this alienation be treated as partition? Whether I have right in the remaining half share of ancestral property in future?

Devajyoti Barman (Expert) 17 December 2010
To claim in future your due share in the anscestral properties it would be better if your father now makes gift of the half share.

s.subramanian (Expert) 18 December 2010
Take a gift deed from your father.

Kirti Kar Tripathi (Expert) 18 December 2010
Agree, take gift from your father.

Advocate Bhartesh goyal (Expert) 18 December 2010
You may get half share of ancestral property by way of registered settelment deed and remaining half share of your father may get through gift deed or will.

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