Validity of gift deed to get home loan


one person of 75years old has a land property in record(Mutated) as name of XY for which he has aadhar card. He had an old abidebit of1980 in first class judicail majistrate court for his change of name as XY. His children bears the name of their father as XY. Should he/can he make a gift deed in blood relation as XY to be acceptable to ABC getting home-loan? Or should he form a living nonprofitable trust with his children to distribute his property quickly which can get loan from ABC for house building and also in future

Answers (1)


201 votes

Sir
Yes. He can make gift to his children.
The name will not be the big issue as the Aadhar Card, Affidavit and ROR are in the same name. In the Gift deed you have to make the presence of both the name , one as alias.
Thanks


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