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Can we put condition in gift deed ?
21-Sep-2023 (In Wills / Trusts Law)
My uncle has his own earned flat . He has two sons and one daughter . Another daughter expired but she has two sons.
One of the son of Uncle is not working and won' t be able to work and is unmarried. Uncle want to give his flat to this son along with daughter and her family if stays in this flat as long as he is alive . But in case they sell he feels all his three children should take equal share .How should he proceed on this ? should he put this in will or go ahead with gift deed ? In case of gift deed for three children name then he feels his another son will force his other brother and sister to sell the flat and take his share ?can you advice what will be suitable way in this ?
This is my response to you:
1. This uncle can choose to execute a Gift Deed;
2. He can give everybody equal share and register the Gift Deed;
3. He can also make a Will and register the same;
4. Either way, he can transfer the property;
5. If there is chance that one of the son's force the other to sell, then they can execute a Family Settlement Deed;
6. In this Family Settlement Deed all three can sell the flat when they desire and add clauses and terms as per the uncle's wishes;
7. This will be most effective document as everybody's rights will be protected.
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Adv. Gowaal Padavi
Mumbai | 1000+ Answers
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Hello,
It is advisable to make a will and have it registered! It keeps things simple and disputes are kept low. Further, you may directly transfer the property and take consent from the siblings. This way again disputes do not rise. You can connect if you wish to get legal help.
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Adv. Varun Vij
Mumbai | 100+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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