Which is better sale deed or gift deed?
Which is better sale deed or gift deed?
Like a sale deed, a gift deed contains details of the property, the transferrer and recipient. But instead of a sale consideration in a sale deed, a gift deed allows you to transfer ownership without any exchange of money. If you don’t do this, the transfer will be invalid.
Can father sell his property without consent of Son?
No, ancestral property be cannot be sold without consent of successors in case of major and in in case of minority you might have to take permission from the court. And if property disposed without consent can be reclaimed.
Do grandchildren have a right to their grandfather’s property?
A grandson, on the other hand, has a right to inherit his grandfather’s property since birth. A father can exclude his child from his self-acquired property, but a grandson cannot be excluded from his grandfather’s property if the property is ancestral.
Can I claim grandfather’s property?
A grandchild does not have any birth right in the self- acquired property of his grandfather if it has been allotted to his father in a family partition in his capacity as legal heir and not as a coparcener under the Hindu Succession Act 1956. The grandfather can transfer the property to whoever he desires.
Who is the owner of property after father death?
If the father dies intestate, that is, without leaving a will, all legal heirs have an equal right to the property. The Hindu Succession Act categorises a male’s heirs into four classes and the inheritable property goes first to Class I heirs. These include the widow, daughters and sons, among others.
Who has right on mother’s property after death?
Once the mother (a woman) acquires any property through will or gift or by inheritance or it a self-acquired property, she becomes the absolute owner of the same. Under Hindu Law, the property of a mother devolves as per the Hindu Succession Act, 1956 (the Act). The Act applies to intestate succession.
