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Discussion > Property Law > Others > Gift Deed vs. Family Settlement   Unanswered Threads Post New Topic

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There are 16 Replies to this message


Rohit


mmm
[ Scorecard : 26]
Posted On 22 October 2009 at 15:02 Report Abuse

Hi All,

Request you to kindly clarify the following:

1) My mother owns a property in Gurgaon. She wants to transfer the same in her sons name (in this case myself). What is the correct way to do so in order to avoid any future complication, should it be done thru gift deed or family settlement? Currently there are 4 of us in the family viz. my mother, my father, my siste and myself. Sister any myself are both married.

2) Should we also disclose and furnish details of property held by my father in Delhi? or should that be left alone? how should I deal with this situation

3) Please help in clarifying steps to be taken in order to follow recommended suggestion. A response will be highly appreciated.

regards



Online certification courses in IP, IT and Social Media laws


Rohit


mmm
[ Scorecard : 26]
Posted On 22 October 2009 at 15:12 Report Abuse

In addition to the above Property was acquired by my mother thru her own funds and all the family members are willing to sign the legal documents thru their own will with no complications what so ever.



Khaleel Ahmed


Legal Advisor
[ Scorecard : 6976]
Posted On 22 October 2009 at 16:06 Report Abuse

She can give the property through gift settlement deed duly registered in your favour with possession of the property. Among Mohammadans any gift of the immovable property can be gifted through oral gift, which valid, the registered deed need not be executed.Simply handing over and taking over of the property with oral words of hiba ie., gift.



Total thanks : 1 times


Member (Account Deleted)


ADVOCATE
[ Scorecard : 2617]
Posted On 22 October 2009 at 16:34 Report Abuse

(1)  Since the property is the self-acquired one, she can very well settle the property among the family members as per her wish.  Instead of gift, settlement is better option. As an abundant caution, the settlement deed can be signed by all the family members; (Though, not necessarily needed).

(2)  Father's property details need not be mentioned (However, if you wish, a sentence can be included in the deed that 'since, my husband....... ....... is already in possession of sufficient immovable property at Delhi, I do not wish to settle anything on his name, etc.,")

(3)  It is advisable to obtain your sister, her husband or children (if major), your father's signatures as witnesses.

 

 



Total thanks : 1 times


Rohit


mmm
[ Scorecard : 26]
Posted On 22 October 2009 at 17:03 Report Abuse

Thank you so much for your respones. I got 2 responses one favoring the gift deed and one favoring the family settlement. I think I will go ahead with family settlement procedure. Getting to sign my brother-in-law on the document might be a bit of challenge, please advise if that can raise any complications. Further I was also thinking to get a will drafted and register the same, will that help?



Rohit


mmm
[ Scorecard : 26]
Posted On 22 October 2009 at 17:05 Report Abuse

Thank you so much for your respones. I got 2 responses one favoring the gift deed and one favoring the family settlement. I think I will go ahead with family settlement procedure. Getting to sign my brother-in-law on the document might be a bit of challenge, please advise if that can raise any complications. Further I was also thinking to get a will drafted and register the same, will that help?



Member (Account Deleted)


ADVOCATE
[ Scorecard : 2617]
Posted On 22 October 2009 at 17:34 Report Abuse

A 'will' speaks only when a person dies.  Hence,  in the present case settlement is the best option.  It is not mandatory to obtain your bro-in-law's signature.



Karl Jacob


Partner/Advocate
[ Scorecard : 200]
Posted On 22 October 2009 at 19:02 Report Abuse

 Gift and settlement are one and the same. In Transfer of Property, there is nothing defined as 'SETTLEMENT'. Only gift is under Chapter VII of the said Act. 



Total thanks : 1 times


G.H. SUBBU


Advocate
[ Scorecard : 73]
Posted On 22 October 2009 at 19:29 Report Abuse

The Gift settlement deed shall be registered.  But in the case of family partition, there is no need for registration.  Just signatures of all the family members in the Family Arrangement Deed among the family property with proper witnesses is enough for the Family Arrantgment Deed, which is also a valid one, in law.



Total thanks : 1 times


Karl Jacob


Partner/Advocate
[ Scorecard : 200]
Posted On 22 October 2009 at 19:40 Report Abuse

 Gift and settlement are one and the same. In Transfer of Property, there is nothing defined as 'SETTLEMENT'. Only gift is under Chapter VII of the said Act. 



Total thanks : 1 times



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