Gift Deed of ancentral property

Arhanath Patil (Querist) 08 December 2010 This query is : Resolved
Dear sir,

My grandfather wants to transfer some agricultural land to my father & my uncle. My grandfather is having 2 sons & 2 daughters. Grandfather got the land by inheritance. My queries are :-

1. Is there any option to transfer the land other than GIFT DEED ?

2. Is the consent of his two daughters required for making the GIFT DEED for above said land?

3.What is the procedure of making GIFT DEED ?

PLEASE REPLY.......
THANK YOU IN ADVANCE

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R.Ramachandran (Expert) 08 December 2010
From the facts revealed by you it appears that the property in question is ancestral.
Even the daughters have been made equal coparcenars and they have equal right over the ancestral property.
Since it is not the absolute property of your grant father, he has no power to make any GIFT of the same to anybody.
Therefore, the property has to be partitioned /given in equal share to every co-parcenars i.e. grand father, your father, uncle, your two aunts all 1/5th share each.
After such a partition, your grand father may gift or give by way of Will his 1/5th share to anybody that he likes (to the exclusion of others).
The property which will fall to the share of your aunts would be their personal property (not ancestral/coparcenary). Therefore they are free to dispose it off in any manner that they may like.