girted property

niket (Querist) 30 August 2010 This query is : Resolved
my father has gifted me the property. please help me by answering me that -- who is the owner of the property,, my father has got liability -- can bank take this house to complete my fathers liability - as he has gifted me the house.. this liability is not the home loan on the above property. its a personal liability of my father.

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adv. rajeev ( rajoo ) (Expert) 31 August 2010
When you have got a gift you are the absolute owner of the property. Bank cannot attach this property. Immediately get transfer the property in your name

Chanchal Nag Chowdhury (Expert) 31 August 2010
U R the owner but if the creditor can prove that the gift was done by your father to escape liability as his other assets are not sufficient to pay off the creditor, the property may be held liable to the extent of the unpaid liability.

s.subramanian (Expert) 31 August 2010
You are the absolute owner of the property in view of the gift in your favor. The bank cannot proceed against this property for any reason and on any ground.

niket (Querist) 31 August 2010
thank you very much for reply,, but my father gifted it to me april 2010 and the liability has come on him in july 2010,,, so can bank take this house for completing thier loans.

Uma parameswaran (Expert) 01 September 2010
Bank could not claim the property.You shall be the absolute owner.Try to varify the details about the loan.

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