Have a coperative housing soceity in Mumbai under my fathers name. It is in the process of being redeveloped. I have 2 options take the sale proceeds with the selling or get an another flat and sell it. but I would like to go with sale proceeds and get the money credited to the account. The question is after selling the property it will get credited to the owner my fathers account,but since it is the only property he possesses, can the bank freeze the funds while teansferring the funds to another account with different addressAs per will, he has an another property in village which will be under his name only after his mothers death. Me, son has the same ancestral property in the village under my name with adhar card,bank account with the same ancestral address. Can I register a gift deed and get that money? the problem is will the bank freeze the funds since huge sum is being transferred and bank will ask for KYC. please answer in brief. also can you please help me with all the documentation process and what are the agreements required in sale of chs,gift deed and all propery process required. hope you help me with the answers
CAclubindia
