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?
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Answers (1)
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.
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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