Please advice on the following:
Mr. A purchased land in the name of his brother Mr. B & another person Mr. C (in the name of B & C's partnership). Mr. A constructed a house in Mr. B 's part of land on ground floor and Mr. B constructed on 1st floor. Now, Mr. B wants to give the half share of his land to Mr. A. Mr. A & B do not have any document for their houses. They have the sale deed of land made at the time of purchasing the land.
Can Mr. B make a gift deed and transfer half of his land in Mr. A's name? What will be the main points to be written in the gift deed? What will be the status of their houses after making such deed? Is there any deed to be made so that there will be no problem in future?
Is there any other solution for this to avoid future problems of property?
Please Reply....
CAclubindia
