The gift of immovable property must be in accordance with section 122 of the Transfer of Property Act, 1882.
My father has left behind a house, which he has divided among his three children. Only I stay in the house. My siblings want to gift their portions to me without consideration. However, I am of the opinion that I should give them some monetary gift as part of a family settlement. Will this be viewed as a money transaction? Also, the property has not been mutated. Can we apply for the mutation to be in only my name and my siblings sign as witnesses?