Hello Legal experts
I need your advice on a particular matter of Gift deeds from Family. Here is my requirement.
I bought an agricultural land in the outskirts of Bangalore along with my brother. The title has been registered only on his name while I paid half of the money for that purchase. This was in 2008. Now I would like to have a legal document which gives me the ownership of half of that property as I have paid half of the money. I would like to know what is the best way to gain ownership on my half of the property.
I was thinking about getting a gift deed from my brother. Can a gift deed be done for only part of the land ( half of the land ) ?
I think Gift deed is the most tax efficient way to get ownership than a co -ownership document. Is that correct ?
Are there any other ways I can have ownership of half of this property ?
Looking forward to your replies and advice. Many thanks in advance !