Transfer of immovable property

hi friends, plz give me urgent solution: A father has two sons and he purchased an immovable property in 1995 to the name of his elder son when his younger son is just 7 years old, now my query is; 1- have the younger son any right in that property? 2- what if the elder son transfer that property as a gift in the name of his younger brother and what is the transfer procedure also the income tax applicability under income tax Act? 3- in future if father will not alive then can younger son claim in that property under family settlement?