Settlement right re-transfer in family property
I have settled one property through proper Settlement Deed to my Father in 2010 now my father wants to re-transfer the said property to me through proper Settlement Deed after retaining the life interest whether it is legally possible and whether any time limitation exists?
After deed of family settlement has been executed by you, your father is absolute owner of said property. I presume said document is duly stamped and registered .
He is free to execute gift deed in your favor. No limitation period arises in such a case . However if ownership is retained by donor and possession is not handed over to done gift would be invalid . If at all your father wants to retain the property for his use he can make a will in your favor.
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