HI all,

My query is that there is a plot which was bought by my father in my mother's name in the tears 2003. My mothere is a house wife and did not earned any money ever. My father passed away a few years ago. We are two brothers. My younger brother lives with my mother and I am living in USA since 2008. Now my mother want to make a will in both of her sons (me & my brother) name through a will. I want to know if there is any better way to do this just to avoid any conflicts in the future. I mean just to ensure my share in the future.

kind sregards

Jitendra

ask your brother to purchase your share from he will be sole onwer of this plot and you will get today value's 50%.

this is most easy and simple way out if your brother hav cash flow to buy your share.

Dear Jeetu,

There are two ways to transfer the property such as by way of will or gift deed.

1. Will:
   

              The will can be executed only after the person dies and his /her legal heirs are entitled in the share of the                       property as per the will.

               Since you haven't mentioned where the property is exactly situtated at. Therefore, I assume the property is in                  Maharahstra and thus the will needsto be propbated by the High Court at Bombay for executing the will.                            Probate of will is not compulsary in some states. Therefore, you need to specify exactly where the property is                  situated at.

       2.   Gift Deed:

              Property could be transferred by the person to the family members by the way of Gift Deed.  The said Gift Deed               needs to be registered compulsarily for making it valid. The gift deed is to be executed within the lifetime of the               donor and the donee (Party which is giving the gift and the party who is receiving the gift). You need to check                   the Income Tax provisions on Gift Tax.

              In this case, You may select the gift deed as the best option in order to avoid conflict latter on. Your mother is                 eligible to give the gift to both the sons.

You  may call me on 9324538481for preparing the will or the Gift Deed.

Regards,

Advocate Rohit Dalmia

Mumbai

Firstly the property is the selfacquired property of your father, now after the death  of your father both t he brothers and morther have equal share i.e 1/3rd share, I do not think any will is necessary when you both are the only legal heir of your parents. If your mother wants to give his share in the property i.e. her 1/3rd then only it is necesary to execute a will. In case you want to sort out the problem before it errupts then make an agreement nominally dividing the property among your brother.

Dear jeetu ,

                   i must say u should go with rahul suggestion as u r nt gng to cme back to india so avoid future prob sell ur share to ur brother nly to avoid future conflict .... otherwise dere are many others ways also if u r gng to come back india warna y to waste time ..

Thanks to Mr Rahul, Mr Rohit, Mr Surjeet Singhji and Mr Animesh ji. I want to know can I sell my share as per the will while my mother (who wish to make this will) is alive. I think a will can only be execcuted after the person making it dies.

Thanks for your kind reply.