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Plot bifurcation of an Hindu family
18-Aug-2023 (In Property Law)
My wife has a plot (90'×50') in her name. Want to bifurcate the plot between me, my wife & our daughter (30'×50') equally. How can we do ? And is there's any tax implication. Kindly advise.
What is the purpose for bifurcation. Do you want 3 parts to be registered in 3 different names I.e; in the name of urself, your wife and your child?
In this case your wife can execute 2 gift deeds in favour of you and your daughter. Or you can also execute a family settlement deed between the three of you.
In this case your wife can execute 2 gift deeds in favour of you and your daughter. Or you can also execute a family settlement deed between the three of you.
Helpful?
Adv. Vaishnavi Sivasankar
Bangalore | 25+ Answers
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