We bought non-movable property 40 years ago for 50K in Karnataka and we are in the possession from 40 years.
Now, I am planning to register that property through Sale deed, But the property owner saying they are not willing do the sale deed since they never received money as we gave the money to their father and he is no more. However they are ready to do the gift deed. The property is in the name of 4 members (Brothers) and that property came through ancestral rights. All 4 bother kids also ready to do the gift deed along with their fathers.
My Question is:
Gift deed can be done for ancestral property in this case to the non-family member?
Is this Legal ?
Can anyone can challenge this in future?