Civil Procedure Code (CPC)

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Selling property to my father against sales consideration

Querist : Anonymous (Querist) 28 July 2021 This query is : Resolved 
I want to sell my flat to my father against sales consideration (paid by him in full). The sales deed would be stamped and registered accordingly. I have below two queries Query (1) Can I sell the flat to my father and myself (as second name) so, I can handle day to day affair of this flat. My father is 81 plus. Query (2) If I can not add my name, and I sell to my father and my son (minor, represented by his mother means my wife). Can my father make me exclusive heir in this sales deed itself? So, my son (after becoming major), and I can sell the flat when my father is not there. Thank you in advance for your help and guidance.

Read more at: https://www.lawyersclubindia.com/forum/selling-property-to-my-father-219076.asp
SHIRISH PAWAR, 7738990900 (Expert) 28 July 2021
Hello,

A registered gift deed is the best option to transfer a flat in your father's name. If you want to transfer the whole flat, then you can execute a gift deed in your father's name. You can also transfer a 50% share of the flat in your father's name. After transfer your father can execute will in your son's favor.
Querist : Anonymous (Querist) 28 July 2021
My father needs to buy property for capital gain, and i am ready to sell. As i understand form other people, I can sell 80% rights in my property, and in that case property would be in the name of my father and my name. This option, if valid, would solve capital gain issue, and also ownership.
Querist : Anonymous (Querist) 28 July 2021
My father needs to buy property for capital gain, and i am ready to sell. As i understand form other people, I can sell 80% rights in my property, and in that case property would be in the name of my father and my name. This option, if valid, would solve capital gain issue, and also ownership.
Dr J C Vashista (Expert) 29 July 2021
You have made the issue(s) complicated and confusing.

Selling your property to your father + yourself ???

Selling your property to your father + your son and making endorsement in sale deed for appointing you as exclusive heir ???

To me, both situations are invalid and illegal.

Consult and engage a local prudent lawyer for proper analyses of facts/documents, professional advise and necessary proceeding.
Querist : Anonymous (Querist) 29 July 2021
Thank you sir,
Query has been resolved with guidance from experts.
Advocate Bhartesh goyal (Expert) 29 July 2021
( 1 ) No, you can not sell flat to yourself .
( 2 ) You can sell flat to your father and your son but in sale deed can't mention that you will be exclusive heir of your father
T. Kalaiselvan, Advocate (Expert) 25 August 2021
You can sell either the entire property or a part of the property to your father, in that case you can retain the remaining portion of the proeprty or can sell the remaining portion to your son, keeping his mother as his guardian to hold the property till he attains the age of majority.
As rightly observed by experts above, you cannot sell the property to yourself even if it is a portion.
your father can purchase an extent of the property to the extent that he claims exemption under LTCG tax.


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