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Author Topic: Can I write my property to one of my kids without other kids consent?  (Read 1300 times)

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Offline pramodjangam

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Its my grand father's land. His will was to be split among his grand children. So the entire property was split among my siblings and a portion was registered to my name. I would like to give this property to my son as I gave something else to my daughter for her wedding already. I do not want to disclose about this transaction to my daughter and possibly avoid a situation if wants a piece of this property as well. Is it possible for me to do that? What are my options?

Online adv.amarnath

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #1 on: September 14, 2015, 07:44:23 PM »
You have few following options which should be done secretly.
1) Deed of Gift
2) Deed of Settlement
3) Testamentary Document - WILL

Deed of Settlement will be costlier where high stamp duty is required to be paid. In case of Deed of Gift stamp duty will be almost 6 times lesser than Seed of Settlement. In case of WILL, very nominal stamp duty is required to be paid. Let it be clear to you that all the documents should be registered save and except WILL (it is optional) To avoid legal complication after your demise which your son may face, you can register it.

ADVICE
If you really want to avoid legal complication as well as do not wish to face litigation by your son after your demise, I would advice to go for DEED of GIFT and transfer all your immovable properties in favour of your son. Your daughter and/ or any person cannot challenge the Deed of GIFT.

For further clarification and advice in details, you can contact me. If you are satisfied with my advice and suggestions, please click on APPLAUD just on the left hand side of this post.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline pramodjangam

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #2 on: September 14, 2015, 08:15:23 PM »
Hello Amarnath,

Thank you for the information! That was really helpful!

Can you kindly let me know if my daughter can claim her share though the property was purchased by my grand father and was split and re-registered among the grandkids (me being one of them).

Assuming the property value per registrars office today is 1 Crore, how much would each of the 3 options cost? Thank you very much again for your help and information!

Have a great day!

Regards
Pramod

Online adv.amarnath

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #3 on: September 14, 2015, 09:23:37 PM »
Regarding your subsequent question, I can only answer you after knowing your family genealogy history (commonly said 'Family Tree') as well as what split and re-registered.

Assumption is not correct until you check it from the Registrar Office. I hope you are guessing the entire property valuation. Actually valuation will be made on the basis of the quantity of land proposed to be transfer.

For Gift - 0.5% of the valuation of the quantity of property proposed to be transfer.
For Settlement - 6% - 7% of the valuation of the quantity of property proposed to be transfer.
Registration Fees for all above is 1.1% of the valuation of the quantity of property proposed to be transfer.

For WILL - Very nominal. It will hardly cost Rs.1000/- including registration fees.

Now all legal advices cannot be made in writing to make you understand easily in comparison to verbal advice.

 
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

Offline advswagata

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #4 on: September 14, 2015, 11:26:11 PM »
Making a gift deed is not advisable do a registered will.
A gift deed is irrevocable kindly note.

A registered will is the best for age old parents in this uncertain times

Offline pramodjangam

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #5 on: September 15, 2015, 04:33:51 AM »
Thank you very much Amarnath and Swagata,

My family tree looks like this:

Grand father [Bought property, made a will to distribute among MALE grand kids]
         |
         |
Only Son [My father, nothing happened to the will or the property stayed as is during his time]
         |
         |
3 Sons [Including me] + 1 Daughter [Property is split among sons equally. Daughter did not get any.]
                            |
                            |
                     1 Son & 1 Daughter [My kids]

So if I write a gift deed of the property to my son alone, I understood from the previous comments that my daughter cannot create an issue in future. Please correct me if I misunderstood.

Thank you very much again! You guys are the best!!

Offline pramodjangam

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #6 on: September 15, 2015, 06:12:42 AM »
Also,

I have obtained an education loan for my son putting my property documents. The loan is still active and the owner or beneficiary of the loan is my son and they also have my name on the loan.

Now, can I execute a gift deed while the property documents are still with the bank?

Thanks again for all the help! Much appreciation!

Regards
Pramod

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Re: Can I write my property to one of my kids without other kids consent?
« Reply #7 on: September 15, 2015, 10:22:53 AM »
WILL of your grandfather was never been probate as per your version. You father was only son so if we set aside the WILL then also your father has inherited your grand father's property. But I dont understood that why and how the property has been divided/ splited among you and your brothers except your sister. why your sister has been excluded? Whether there is any Deed of Settlement or Gift etc etc.. Until and unless you explain this the advice will not be proper for you.

Considering that you are now absolute owner of your property, then you can make a gift of deed to your son. Further education loan will not hamper or will be disturbed with subsequent transaction. You need to disclose this fact to the bank.

If there is no partition among your brothers then your are mere joint/ co-sharer of 1/3rd undivided share of your father's property. Then you have to make a gift accordingly.

If you are satisfied with my advice please click on APPLAUD just on the left side of this post.

For further clarification and doubt you can contact me.
Regards,

Amarnath Sanyal
Advocate
Email - adv.amarnath.sanyal@gmail.com
Mob - 09830303322

 

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