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Rahul Shewale
Asked March 10, 2017

Gift deed of share in property

  • 5 Answers
  • 1362 Views

There is a land on which suit is going on in civil court, the land was registered in my Grandfather & grandmother name, but the sale deed was done in my grandmother name, she later added by grandfather's name. After my grandfather expired his 5 son's name were added on the same. But the part on which grandmothers name was there was as it is. now there is suit going on between sisters vs brothers & mother in court. Now the mother means my grand mother wants to gift her part of land to her grand sons. Is it possible to make gift deed for transfer?

Answers 5

Sir,

Ya she can gift her part of share.

Agree Comment 0 Agrees almost 2 years ago
  • Default avatar
    Rahul Shewale
    Thanks for you ranswer, but there is case ongoing on entire property in civil court betwen sisters vs brother & mother then also can a gift deed be executed. Thanks
    Agree 0 Agrees over 1 year ago


She is entitiiled in law to gift only her respective share in the property  to any person of her choice. 

Agree Comment 0 Agrees almost 2 years ago
  • Default avatar
    Rahul Shewale
    Thanks for you ranswer, but there is case ongoing on entire property in civil court betwen sisters vs brother & mother then also can a gift deed be executed. Thanks
    Agree 0 Agrees over 1 year ago


try to get the will instead of gift,

if you are ok with gift deed then go for it because she is the owner of that land and she has right to gift any one.

Agree Comment 0 Agrees almost 2 years ago

try to get the will instead of gift,

if you are ok with gift deed then go for it because she is the owner of that land and she has right to gift any one.

Agree Comment 0 Agrees almost 2 years ago
  • Default avatar
    Rahul Shewale
    Thanks for you ranswer, but there is case ongoing on entire property in civil court betwen sisters vs brother & mother then also can a gift deed be executed. Thanks
    Agree 0 Agrees over 1 year ago


 

Dear Sir/madam,

Let us understand the basic concept of what a gift deed is. A gift deed as per law is defined under Section 122 in The Transfer of Property Act, 1882[1]- A Gift Deed is a legal document that describes voluntary transfer of gift from the owner of property to the acceptor of gift without any money consideration. Your grandmother being the owner of the property has got all the legal rights to either gift it or dispose it off according to her wishes.

The things that can be gifted – (i) should be movable or immovable property (ii) should be tangible (iii) must be transferable. A draft of a Gift Deed must contain :-  (i) Details of the Donor (ii) Details of the Donee (iii)Relationship of Donee with the Donor (iv) Details of the property that is being gifted (v) Date and Place of execution of the Gift Deed (vi) Signatures of Donor and Donee (vii) Signatures of the witnesses

The link of one such format of the gift deed is provided below[2].

Stages of a gift deed are as follows :-

Making of a gift-deed – it is essentially an agreement between a donor and the acceptor. An agreement without any consideration.

  • As per Section 123 of the Transfer of Property Act, a gift of immovable property should be registered. This registration is to be followed by an attestation of two witnesses. Registration process involves paying the respective stamp duty. Stamp duty varies from state to state as it is a part of the local laws.
  • Gift deed is completed on the acceptance of the gift by the done as against the donor. However, for a gift deed to stand valid – it is mandatory that the done receives the gift during the lifetime of the donor, else it stands void.

Registration of a gift deed is mandatory as per Section 17 of the Registration Act, 1908 and section 123 of the Transfer of Property Act. Doing otherwise, renders the transaction invalid.

Further, as soon as the gift by your grandmother is accepted by the grandsons – the next step should be applying for mutation of the property. This “mutation” helps change the name of owner in the property in the legal revenue records that are maintained by the state – for further selling or transferring of the same property.

Also, in case where the grandsons are minor, the property in the aforesaid gift rests with the guardian of the minor in the capacity of a caretaker – till the time, the minor is above 18 years of age.

 

 

 

WILL  

 

 

[1] “Gift” is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee. Acceptance when to be made.—Such acceptance must be made during the lifetime of the donor and while he is still capable of giving. If the donee dies before acceptance, the gift is void.

[2] http://www.bipldirect.com/sitedata/downloads/Direct/20100521104256890_Gift%20Deed.pdf

Agree Comment 0 Agrees over 1 year ago

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