Buyer accepts gift deed as title deed to purchase property?
(Querist) 27 July 2021
This query is : Resolved
Dear Sir, As per your suggestion in my last query, in my friend's case where the transfer deed of flat in society is in his fathers name and after his fathers death his mother and he the only heirs , now the society membership is in his mother name now we will execute a gift deed of 50% of mothers shares to her son , but whether this gift deed confer the rights to son to sell this flat in future , does buyer will get absolute title , does buyer objects for this gift deed. your opinions will help me a lot .
Dr J C Vashista
(Expert) 28 July 2021
You should have posted this query in the same thread, where no one (except you) remembered the facts vis-a-vis opinion /advise provided by experts.
Facts posted have been complicated and confusing. You have stated after death of father the society membership was transferred in the name of his wife (mother), what is the problem when it has already been transferred. Subsequently you have stated mother and son are the only LRs of deceased father, who is planning to execute gift deed for 50% of his / her share and in favour of whom ?? However, the donee shall be absolute owner after transfer of 50% share of co-sharer and s/he can dispose it as desired.
Consult a local prudent lawyer for better appreciation of facts/ documents and professional advise.
Advocate Bhartesh goyal
(Expert) 28 July 2021
Yes if mother transfer his 50% share to son through registered gift deed then this registered gift deed confers the title of property in favour of son and son will be treated absolute owner of gifted property.After having received gift son will have every right to sell,gift or transfer the property to anyone and such transferee will also get absolute ownership.
(Querist) 03 August 2021
Thank you Vashista sir .
T. Kalaiselvan, Advocate
(Expert) 25 August 2021
Since the property was inherited from the deceased father, his mother can transfer her share in the property by executing a registered release deed relinquishing her rights in the property instead of transferring the same by a registered gift deed. This will make the son an absolute owner of the entire property and he will acquire clear and marketable title over the property to sell the same to the prospective buyer. In any case if the buyer insists on legal heir ship certificate, then it becomes the duty of the seller to provide the same because it is not the son's self acquired property, hence the buyer wants it to be doubly confirmed that there are no other legal heirs left out who may emerge at a later stage with a dispute regarding his/her share in the property in future.