Gift deed to one child

Consult a very able counsel specializing in family/property/civil matters alongwith all property related papapers/mutation record/link docs/loan docs  etc...................

Gift/ sale deed/WILL may be discussed.

Registered family agreement mya not leav any scope for litigation in future.

1) A gift Deed would be a better alternative than a will as you would gain title to such land with immediate effect whereas in case of will, ownership would get transferred only after demise of the testator that is your parents. Further a will can be challenged, whereas if the property has been transferred through a registered Gift Deed, such transfer cannot be challenged with ease.

2) If you have such apprehensions, certainly opt for a gift deed as if, god forbid, your brother is also departed, then your sister in law and nephew can certainly challenge the will if they want to.

3) If your conscience is clear, then hardly makes a difference which of these two they opt for. Further you can enter a Memorandum of Understanding with your brother that you would not claim a share in the ancestral land and in lieu of that he or his heir would abstain from claiming the house.

4) Getting a will made would be least expensive but not that effective whereas a gift deed would require stamp duty and registration but would certainly be effective. 

TS Makkar

Advocate

+91-9811849194

Explore all possibilities.

Registered family agreement may not leave any scope for litigation in future.

Consult a very able counsel specializing in family/property/civil matters alongwith all property related papapers/mutation record/link docs/loan docs  etc...................

"We also have some ancestral land inherited by my father from my grandfather. " If the inheritance had been through a registered partition deed, the property is no longer ancestral, it is personal to the father. Hence a gift deed could be executed at the discretion of the parents. Wives of the sons or their children (or even the sons themselves) have no stake in the matter.

thank you Mr Makkar for your detail reply.

1) can you please tell me how much will be the cost for a gift deed?

2) do I need consent /signature from my brother ?

3) as my father cannot speak or sign, is my mother's signature suffices for the gift transfer?

Thank you Mr venu for your reply.

The ancestral land has not been transfered legally yet as we have court cases against the govt for vested lands. 

The Sub registrar can depute its commissioner a to register POA or get signatures in the prsence of witnesses, if father is unable to appear for registartion and sign.

The suit property can't be transferred.

WILL (preferably registered) is the option.

Charges etc can be inquired from SRO.

1) Stamp duty and registration charges vary from one state to the other and would be somewhat similar to what is applicable to a sale deed. You can refer to your state government's site for the applicable duty

2) No. He is a stranger to such gift and his signatures would not be required.

3) Your mother can independently transfer the land as it is in her name. For the house your fathers  Thumb impression can be put which can be identified by two witnesses.

TS Makkar

Advocate 

+91-9811849194

Thank you Mr Makkar. 

I found this document about registration fee in west bengal.

https://www.wbregistration.gov.in/(S(l3ke44jldd3fa5sw4ayg552t))/Stamp_duty.aspx

1) In one place it says 6% of the property value in urban area. in other place it says that 0.5% of the property value in case of transfer between family members. Can you please check it and confirm? 

2) How will I assess the property value? If I show a low amount ( for example 5 lac ) as property value, may I face any legal problem in future?( The property value is more than 50 lac )

3) After registration do I need mutation in my name? How can I apply for that and how much time it needs? What is the cost for that?  

Thak you Mr Doad for your reply.

1) Can the registrar appoint a commissioner/ some personnel to come at our house to collect the thumb impression( in front of two witness) of my father?? 

2) Can anyone challenge the thumb impression in future?

3) does the signature of my brother as a witness have more legal strength in the eye of law? can relatives be the witness? 

You have to make some effort.

Visit SRO and inquire.

Also consult a very able local counsel.

Your state follows Dayabhanga School.

1)0.5 % it would be

2) assess it a little above the circle rate

3) yes. time and cost again varies from state to state and ought to be enquired from your local municipal corporation although it does not take too long or cost too much

The experts have advised well.  It can be a family arrangement deed or settlement deed settling both the properties to both of you separately or by bequeathing the properties by a will.