If the property is self-acquired he has all the rights to gift the property to whomever he may want to do so. A gift deed would be preferable as the ownership and title of the property will remain with the father and only after him the title will automatically pass to the son. Therefore, Gift Deed is preferable as you will not require consent signatures from your daughters as you may need it in the Settlement Deed. Thank you. 

1) father should execute gift deed in favour of son 

2) it should be duly stamped and registered 

Settlement. 

Regards 

G.Rajaganapathy

High Court of Madras

Gift deed is always best. Settlement deed is more like a trust deed than a clean transfer inter vivos. 

Being a owner of a self acquired property  he can execute a settlement deed. Registered settlement deed would be better. 

Gift deed is preferable.

Best is to go for Gift Deed,  as the transfer of property from the Donor to the Donee takes place, immediately during the lifetime of the Donor.

Gift Deed is ideal only for evading the stamp duty charges. However a settlement deed would require all the three children to obtain their necessary share in the property. 

1. A Registered Gift Deed for Donor's Self Acquired Property is irrefutable & irrevocable and ANY other legal heirs have no legal jurisdiction to object and neither any NOC or Consent etc.... is required from any other legal heirs.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

Hi, Gift Deed is always safer then Settlement Deed in my opinion.

Either a gift deed or a settlement deed is good enough legally for conveying the father's self-earned property to his son, to the exclusion of his daughters, during his lifetime. Or, he may leave a Will in his son's favour, which will take legal effect after the father's lifetime.

- As per law, one can pass his self acquired property to anyone as per his own wish , and none having right to claim.

- Hence, your father is free to pass his self acquired property to his only son , and daughters have no right to claim during the life time of her father . 

- A registered Gift deed is a better option.

If the father wants to transfer his self acquired property to his son alone during his life time, he can very well do the same by executing a registered settlement deed or even a gift deed.

However the stamp duty on gift deed would be more and since the settlement deed is a provision in law for transfer of proeprty within blood relations at a lesser stamp duty, it would be advisable to prefer a registered settlement deed itself.

You may please note that the self acquired  immovable property transferred by the father to his  son by either of the registered deed during his lifetime, cannot be challenged by others at any later date

Gift Deed which should also be registered. after registration of that Gift Deed you will be the absolute owner of that property and nobody can restrain you to use your property as per your choice.

Both are good options and can be exercised