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Author Topic: Procedeures of Property Division to one son among two  (Read 398 times)

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Offline avibcet

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Procedeures of Property Division to one son among two
« on: April 29, 2016, 08:45:04 PM »
Hi

I have two son. Younger son has left home after getting married. We are totally dependent on our elder son.

Hence we want to give my whole property to our elder son.

Kindly let me know the available procedures with low cost to transfer my whole property to elder son's name.

Regards,
Avi

Offline advjaibansal

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Re: Procedeures of Property Division to one son among two
« Reply #1 on: April 29, 2016, 10:52:31 PM »
Dear Sir,

You may WILL the entire property to your elder son but the said WILL may be challenged after your demise by the younger son. The best recourse is to Gift the property to your elder son if the same is purchased and made by you. IF the property is ancestral property then you cannot take the right of the younger son despite transferring the property in the name of elder son.

Regards,
JAI BANSAL, ADVOCATE
NEW DELHI,
SUPREME COURT OF INDIA
bansal.jai@gmail.com
09868566649
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
mobile: 09868566649

Offline avibcet

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Re: Procedeures of Property Division to one son among two
« Reply #2 on: April 29, 2016, 11:22:46 PM »
Hi Jai Sir,

Thanks for the information.

I would like to inform you that the property is purchased by me and maximum part is made by my elder son.

Kindly let me know what will be the procedure and approx cost to gift the property to my elder son.

In case of WILL, after my demise what will be challenges if I WILL the entire property to my elder son.

Regards,
Avi

Offline advjaibansal

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Re: Procedeures of Property Division to one son among two
« Reply #3 on: April 30, 2016, 01:39:46 AM »
Dear Sir,

Stamp duty on the gift deed depends on the city you stay as per stamp duly levied by the state rules. It may not be more than 4 to 5 % of the total circle rate value of the property i think. There can be 100 of reasons for challenging the WILL be the brother in future after your demise. Hence, its advisable to execute a gift deed in his favour.

Regards,
jai bansal
Advocate, New Delhi
Supreme Court of India
bansal.jai@gmail.com
mobile: 09868566649

Offline adv.amarnath

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Re: Procedeures of Property Division to one son among two
« Reply #4 on: May 01, 2016, 03:45:48 AM »

Making Gift is the best way to transfer the whole property than Registered WILL. You have to pay 1.6% of total valuation of gift property whereas 0.5% is the stamp duty and 1.1% is the registration fees. You have to bear Advocate professional fee and others misc expenses to get it done
Regards,

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

 

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