Property regarding
Sreenivasa Rao. S.
(Querist) 08 July 2013
This query is : Resolved
Dear Experts,
Iam a civil engineer got married 2year back.I lost my mother at my birth, my father got married with my mothers sister.They blessed with a son. My father is also a civil contractor and earned properties. First asset value of Rs.1.00 Cr is in my and my step mothers favor with a banl liability of Rs.25 Lacks.Second asset value R.1.25 Cr reegistered in my step mothers favor without any liability and the third asset is in my fathers favor value Rs.70 Lacks with bank liability of Rs.16.00 Lacks.
My father was put in loss of Rs.2.00 Cr in his business and intends to sale the first property which is in my and my step mothers name.I demanded to register third property which is in his name against the first asset as replacement.He is not agreeing and forcing me to sign the sale agreement. My parents want to transfer their properties to their own son. Please guide
Please guide me what I have to do.
Thanks and regards.
Prasad Rao
ajay sethi
(Expert) 08 July 2013
you should help your father in his hour of need . if he has incurred loss of over Rs 2crore then as son it is your duty to help him . you are young and earn your living on your own and make your own assets in life .
legally speaking your father cant force you to sell property which is in your name
Rajendra K Goyal
(Expert) 08 July 2013
Very well advised by the expert ajay sethi ji. He has advised morally and legally both aspects, with extra support to moral side, nothing more to add.
Raj Kumar Makkad
(Expert) 09 July 2013
I shall reply on legal aspects as you have posted your query here just for seeking legal advice.
You cannot be pressurized to sale your share against your wishes so now its your mind to decide.
