Share in the property

JAI BHASIN (Querist) 19 March 2013 This query is : Resolved
In continution of my query regarding the claim of share of my elder son in my regd.property being only his name is registered in the sale deed,he has not paid any amount to purchase the said property.As you replied that now he has became co-owner and I have to give his share. But how I will
give him as his share i.e,how to calculate it as per law and what types of documents to be prepared for him deleting his name/photo in the sale deed forever.After that this flat will belong to three members of the family.Whether it will presumed that each member has 25% share as we have not mentioned any share for each member in the sale deed.If we have to give him any amount in lieu of his share,we have to take loan against this property as at present we have no money to give.As per Income Tax law/civil law,only those persons who pay the sale consideration amount and their names are regd.in the sale deed/agreement are the owners for taxation ,even if non-working female is owner of the immovable property and his husband is working,this property is also treated as his property assuming this property is purchased by his fund as per civil law for distribution of property between legal heirs after his death.Please guide me,how I will solve this problem?

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