Shanmugam M (Retd. Bank Officer) 16 January 2011

Gift settlement for my wife!

Sir, I'm having a 1200 Sq ft. Of land, and it's been under construction half way. Due to the price exclation it's been delayed. I'm a father of two major sons. Since, I'm a cancer patient, I afraid I couldn't survive much longer, so in order I'm willing to settle this house propery as a gift to my wife. My question is whether my wife during her lifetime/after her lifetime (If she wishes), 1. Whether my wife could give away the property to my two sons as an Undivided Shares of 600 Sq ft. each (ground floor to younger son and first floor to elder son). 2. Whether both of my sons could sell their propery individually without any difficulty? Thanks in advance, Shanmugam M

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Partik Jani (Advocate ) 16 January 2011

Yes you can gift it. Pl note that the Deed of Gift is registered and there are two attesting witness at the tim eof execution of Deed. If wife not accepting Gift than th eproperty shall devolve by Virtue of Hindu Succession Act 1956 u/s 8. Yes your after death of your wife property will devolve upon your sons. With joint consent they can sell the property. If on eson is willing to sell but other is not than in that case the matter is bit difficult if the sam eis dewlling house that is both the family member sof the respective sons are residing in the smae house.