Gift deed

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This query is : Resolved

Vikas Arora (Querist)

22 August 2012 I want to ask that My father wants to invest in new property out of his share received from my grandfather on account of sale of our house. The rest of the two brothers of my father did not want to invest in property as they do not have much funds as my father have on sale. My father is investing because he needs a home & tax on capital gain is also saved. But I want to register that new property on my father's name not as co applicant with my grandfather name as the current house is registered on his name..
So is there is any solution so that registry will be done on his name and no further claim will be made by my father's brothers in the near future?

Amol S Joglekar

Amol S Joglekar (Expert)

22 August 2012 If you save on one count, the another will creep in. You can not have an apple and also eat it. List the various alternatives (One is pay capital gain tax) and the optimum benefits can be worked out.

Vikas Arora

Vikas Arora (Querist)

22 August 2012 Thanks,
Sir I agree with your point but i just want to ask if my grandfather gives my father's share as a gift deed, then registry will be possible in my father's name or not?

Amol S Joglekar

Amol S Joglekar (Expert)

22 August 2012 YES. You can proceed on making the gift deed of the said share. You can register the same deed with sub registrar of proper jurisdiction.

Vikas Arora

Vikas Arora (Querist)

23 August 2012 Thanks a lot sir

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