Gift of Property
Mihir
(Querist) 02 May 2010
This query is : Resolved
The property agreement is made in the name of father and one son....if they wan transfer the property to third person by way of gift then how to make a gift deed in such a case?whehther two seperate deeds should be prepared by each joint holder or otherwise one single instrument is sufficient mentioning we are joint onwers and want to transder our share to Mr. XYZ
A V Vishal
(Expert) 02 May 2010
A single joint gift deed is sufficient.
Ashok Yadav
(Expert) 03 May 2010
Mr. Vishal is right.
But as per ur query a property agreement is made in favour of Father and one son. If there is only an agreement in favour of them, they can not gift the property to anyone, firstly they will have to get title in their favour and only after getting title of the property in their name they can gift it to any one. So take care of this issue.
