Legal Question in Wills and Trusts in India

Dear Sir: I am fighting a court case with my landlord, my business premises.
I am fighting a court case with my landlord, my business premises.
They have lodged a claim of about 90 Lac rupees on me.
I don�t have that much amount of money. Just in case, the case is decided against me I will have to sell my house or they can take a court degree and auction my house and freeze my bank deposits, etc.

The court case is in initial stages and may take few more years to decide.

1. Is there any way like I gift my house, bank deposits, cash, and jewellery to my children so that these would not remain in my name. This way at least I would save my life-long earnings for my children.
2. Is there any other way out to save my assets?

Plz Note: My house is not under any lien or mortgaged. It is my freehold property without any encumbrances.

Asked on 8/30/08, 1:21 pm

3 Answers from Attorneys

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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Re: Dear Sir: I am fighting a court case with my landlord, my business premises.

No. You cannot do that. Any transfer made by you during the pendency of the case may be vitiated in law.

You cannot transfer your properties during pendency of a litigation in order to deprive the opposie party of the fruits of litigation. Such transfers are considered as "fraudulant" and can be cancelled at the instance of the decree-holder.

This may increase your complications in future.

You are advised to make all possible attempts to amicably settle your disputes out of the court. You may also attempt settlement process through court by machinery of mediation, concilliation or arbitration.

The delay in litigation may not help you except that if there is a boom in property value, the worth of your property may increase and you may be comfortable to make payments of apprehended decretal amount.

Answered on 8/30/08, 1:29 pm

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