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Yogesh (s)     17 March 2013

Development rights and transfer of property

Hi,

I want to develop the land owned by my father by taking housing loan in my name. I am having younger brother who will not be providing finance for development.  I am planning to GPA from my father for developement rights.

Since there will be heavy loan on my name for next 20 years. I want  to make sure that there will be no issues in future between me and my brother in case of death of my father since the GPA will cease.  I need some solution to handle this.

 Will you advise to go for some settlement deed or gift deed from my father or there is any alternte way.  Both of this deeds needs to be registred and there is stamp duty on this. 

Regards,

Yogesh

 

 

 

 



Learning

 1 Replies

Ajit Singh Cheema (practising Advocate)     17 March 2013

The cheap  and the best method is to get the gift deed executed from your father in your favour ,and get it registered ,donot forget to accept the gift deed . on the basis of gift deed get the property mutated in your favour inthe revenue records.


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