Legal Question in Construction Law in India

Sir, My father wants to see his flat to me as a gift(Immovable property). But he wants to give half of the share of the flat at the time of sale to my elder brother. Please let me know whether this condition can be mentioned in the gift deed executed. or else how it is possible.


Asked on 1/25/13, 3:07 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

25.01.2013

Dear Sir / Madam,

(Madipakkam / Puludivakkam / Ullagaram - Chennai)

A prerequisite for a gift to be valid is that it should be unconditional. So the Gift Deed per se cannot include this condition. If your father is willing to gift the flat unconditionally to you; then you and your brother can have a separate document to record your consent to share 50% of the sales proceeds of the flat that is in your name after registration of the Gift Deed. A Gift Deed can be revoked by the donor in future.

If it a flat in a registered Society, an alternative option before your father is to file his nomination with the Society making you and your elder brother 50% nominees each in the said flat.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

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Answered on 1/25/13, 3:51 am
Jayesh Desai Jayesh Desai

He can gift half share to you and other half to your brother, with a condition that it can be sold only by consent of both or after life time of both the brothers.

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Answered on 1/27/13, 11:46 pm


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