dinesh sahu (teacher) 14 September 2014

How can i gift my property

hello everyone..

I am in a big confusion about "passing my property" , specially after visiting so many forums.

we are two brothers and we have our shares of property, partitioned after dismissal of my father. I have two sons.

for some reason if i want to gift my entire property or a lagers portion say 75% of my property to my elder son. can i do so?? YES then..how?? NO.. then why not ??..after all its my property(although i am very much confused by the idea of self acquired and ancestral property)

in some of the forums i found that it can be done by a registered gift deed, is it true??

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4 Replies

Dr J C Vashista (Advocate) 15 September 2014

Gift the portion of your property under a registered gift deed.

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dinesh sahu (teacher) 15 September 2014

Originally posted by : Dr J C Vashista 9891152939
	Gift the portion of your property under a registered gift deed.

thank you sir for replying..

can you please clear my doubts about self acquired property??

we are two brothers and we have our shares of property, partitioned after dismissal of my father. so whatever property i have is it a self acquired property??

in some of the forums it is mentioned that an only a self acquired property can be gifted.

And all the coparcener have equal rights on an ancestral property since their birth.

and can i do the same by leaving a WILL instead of a registered gift deed as it will be very costly

.

Ashish Dongre (Advocate) 15 September 2014

you can make a WILL with regards to your property instead of registered gift deed.

T. Kalaiselvan, Advocate (Advocate) 24 September 2014

The property in your hand inherited after an allotment due to a partition between you and your brother will be your own property n which you have full rights to dispose it in any manner you desire. You can go ahead with your proposal to gift away 75% of the property to one son and rest to other son, you do not have to take anyone's consent for that. It may be a registered gift deed or it can be bequeathed through a Will. If you are bequeathing through a Will, suppose there is a dispute between them after your demise, the purpose will not solve hence better go for execution of gift deed.