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Sale deed is safe option to buy a property from parents?

  
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Sale deed is safe option to buy a property from parents?

Postby jorian23 » Mon Mar 26, 2012 5:46 am

i m planning to purchase a open plot from my mother in law by registering a sale deed to my name, i want to know that in future my brother in law have a right to claim on prorety b'coz earlier it was name of my mother in law, pls suggest me whether it is safe to purchase property from parents
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Sale deed is safe option to buy a property from parents?

Postby zacchaeus21 » Mon Mar 26, 2012 5:47 am

What is important is how the present owner acquired the property. If it is by way of her own independent earnings, then she has the right to alienate the same in any manner to anyone as per her wish. But, adequate details of source of funds for investment into the property, including stamp duty and registration fee spent, if any, are to be provided in the recital clause of the deed of transfer by the present owner, so as to enable the transferee to be equipped with necessary details in the event of any litigation later on. General description as own funds, savings streedhan etc would not be sufficient but fuller description is needed.
No insulation from any litigation is possible. If a litigation is foisted, then it is to be defended with adequate evidence.
Any type of transfer, including sale for valuable consideration, can be challenged later on by any interested party, on grounds of 'defect in title of the transferor'. So, perfection of title of transferor is important rather than methology of transfer by way of sale deed, settlement deed, gift deed etc.
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