Property Transfer Rules: If a parent wants to transfer his property to his children, he can do so through nomination. In this way parents can divide the property among their children. Through nomination, property can be done in the name of their children through parents.
Property: A lot of hard work is done in life through people and through this hard work people also collect property. On the other hand, when people get old, they also transfer their property to their children. However, there is a process behind the transfer of property, which also has to be followed. In such a situation, let us know how parents can transfer property to their children without any dispute…
Nomination
If a parent wants to transfer his property to his children, he can do so through nomination. In this way parents can divide the property among their children. Through nomination, property can be done in the name of their children through parents. Along with this, if the parents ever want to change the nomination, then they can get someone else’s name registered as well.
will
Apart from this, another option is a will. Your will can be prepared through parents. In this will, parents can reveal to whom they have to give their property. A Will is a legally valid document. Through will, you can hand over your property to any concerned person after your death. If you are not a minor and are of sound mind, you can write your Will as per the Indian Succession Act, 1925. Transfer of property through will is legally valid.
Keep this in mind
Whatever property the parents want to transfer, their documents should be present. With the help of documents it helps in avoiding any dispute. Along with this, it also helps in verifying through documents that what are your assets.
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