Property transfer

Can you please advice why you are suggesting Gift Deed, instead of settlement deed. Will it be viewed by the courts at a later stage as a family settlement to deprive the share to my wife. Will the court call the settlement deed Null and Void.

In the case of sale deed, will there be an issue from the Income Tax angle, since the 1/3 rd of the sale proceeds needs to be invested in govt. securities etc.,

Please advice and thanks for your post.

With respect to advice given by Mr Ashish Davessar i want to cite following few lines/extracts of a high court judgement and also seek advice of learned experts on the same Extract as i am also suffering from same problem"Md. Ishaq v. Md. Yusuf, AIR 1927 Lah 420 Tek Chand J., "But where there are no debts due at the time and the transferor runs into indebtedness subsequently, the presumption will be regulated by the peculiar circumstances of each particular case. If, for instance, the transfer was made to ward off the effects of a threatened litigation or in anticipation of the transfer or embarking upon a commercial venture or on the event of his going into trade, the intent to defeat or delay future creditors will be presumed. But in other circumstances the transaction will be presumed to be bona fide and it will lie on the future creditors to prove that the transfer was made with an intent to defeat or delay them".Cant it be presumed by any court that i gifted the property with malafide to avoid my wife's share as future creditor esp as it will be easy for her to prove that relations between us were strained and i did the gift deed in anticipation.......kindly advise

Ld friends...can you please clarify...