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Gift/Partition of one floor of house
15-Jan-2023 (In Property Law)
Hello,
My father gifted me a land by means of gift deed, and it is already registered in my name.
I am willing to build a three story house on that land, but give the middle floor to my brother.
He will bear the cost of the construction of the middle floor by means of bank loan.
1. What is the proper way to do this so that I can gift the middle floor to my brother, but also protect my rights and ownership of ground and second floor?
2. Is a combination of partition deed the answer (Because I am the sole owner of the property now and my brother is not a co-owner)?
Thanks in advance!
the best way is to protect your rights and ownership by selling out middle floor to your brother after construction of the building now you have not constructed the building yet how can you gift by a virtue of gift deed and how can your brother will get the loan as he is not the owner of the property now you can gift your brother a portion of your property through a gift deed but how can gift the middle floor in advance or there can be a way but you have to consult advocate get in details .
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Adv. Sharmin Zafar
Kolkata | 100+ Answers
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