- Bribe Hotline
- 14 years ago
- 2099 views
For a plot under Co-op Housing society, I have the registration and Possession certificate. The layout has been delayed due to large demand from BDA, which finally got annulled through court cases run
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Dear Mr. Subramanian,</p>
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To me, once the possession certificate and registration has been done, you have enough proof of title to the property to gift it to your son. However, there are a few things that you must check out. Most important please check if there are any restrictions imposed by the Coop housing society or the BDA, prohibiting a transfer of the property by gift or sale. In case it is found that there is no problem on this account, you can undertake the gift.</p>
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However, as a matter of strategy, I would counsel that you first get the Khata in your name and pay the property tax. if you gift the property to your son, then he will anyway have to do this and it will be more complicated for him to do this as the recipient of a gift, as compared to you doing it when you are still the substantive owner of the property. Since you have to do this anyway, whether before or after you make the gift, I would suggest that you do this before you give the property to your son through a gift deed.</p>
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Regards,</p>
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Raghunandan</p>