Can I transfer property to parents for selling purpose

717 votes

sir
yes you can very well transfer/relinquish your share/ portion of property to your parents for any purpose. but it should be registered with the registering authority otherwise whatever your transfer documents (settlement deed/ release deed, gift etc) will have no effect at all before the eye f law.

Advocate N Sudalai Muthu LawRato

847 votes

YOU CAN TRANSFER YOUR PORTION (?) OF PROPERTY:
If you have inherited ancestral property as your share and there are co-sharers like your brothers, father or mother, you can relinquish your rights by executing a registered release deed in their favor, they can sell the property on this basis.;
You can transfer the property in favor of your parents by executing a registered gift deed after which they can sell the property;
You can execute a registered GPA deed in favor of them so that they can sell the property on your behalf.
In any event, you are to be present before the registrar's office to execute any of the above referred document.

Advocate T Kalaiselvan LawRato

673 votes

There are provisions in Registration Act to do such registration. You need not to transfer the property to your parents. You can appoint them as power agent to execute the sale on your behalf. You can save money being spent on sale deed being executed in your parents' favour. Even if you are stationed outside India, you can execute the General power of attorney.

LawRato LawRato