Transfer of one property through 50% sale and 50% gift
Ram
(Querist) 12 August 2016
This query is : Resolved
Hello Sir,
MY father and my uncle (his real brother) both have 50% share in a property. Now my uncle wants to sell his 50% share to third party known to us and my father wants to gift his 50% share to his son that is me.
My father and my uncle both are 80years and are not able to go to the registrar office, so we have to call the registrar home.
We are confused if my father who is the first owner becomes the confirming party and on the same day if he makes a gift deed then who will be the confirming party as my uncle would have already sold his rights to third party.
Kindly suggest.
adv.bharat @ PUNE
(Expert) 12 August 2016
Ur father can make will with that effect.
Ur uncle need to give release deed for 50% of property.
Ram
(Querist) 12 August 2016
Sir, I mean if we have to make Sale deed and gift deed then what do we do?
kavksatyanarayana
(Expert) 14 August 2016
your uncle have right to sell or transfer his share to any one and like that your father can give you gift for his share. two separate documents shall be executed by your father and your uncle for their shares as they wish. 9490929460-AP
Ram
(Querist) 15 August 2016
Thank you sir, but is NOC required from the owner and co owner for sale and gift.
Ram
(Querist) 15 August 2016
Thank you sir, but is NOC required from the owner and co owner for sale and gift.
Hemant Agarwal
(Expert) 19 August 2016
SIMPLE:
1. Property jointly belongs to Uncle & Father. This property is "undivided" AND HENCE cannot be sold.
2. FIRST Father makes a Gift Deed of his 50% share to Son, with Uncle as confirming party and gets it registered FIRST.
3. SUBSEQUENT to the above point no. 2, Uncle sells off his 50% share, with the Son as confirming party and gets is registered SECOND. Here there is no role of the Father.
Keep Smiling .... Hemant Agarwal
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