Chaitra S
Asked January 23, 2017

Gifting of Property- Legal questions

  • 1 Answer
  • 315 Views

Please suggest Me Can we sale condition gift deed property ?

Answer 1

Validity and nature of conditional property is discussed under S. 26 of the Transfer of Property Act, 1882[1] (TP Act), according to which a condition is said to be fulfilled when it has been followed even substantially or partially if necessary. For transfer of such conditional property two scenarios have been discussed under the TP Act:

  • S. 33 of TP Act[2] deals with transfer of property where no time has been specified for the performance of the prescribed condition. If no time was specified in your contract then you may sell the same after fulfilment of the condition.
  • S. 34 of TP Act [3]deals with transfer of property where time has been specified for the performance of the prescribed condition. If such time has been prescribed in the contract in question then you may sell the said property only if the prescribed condition is fulfilled within the set time period.
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    [1] Available at: https://indiankanoon.org/doc/1471671/

    [2] Available at: https://indiankanoon.org/doc/1208026/

    [3] Available at: https://indiankanoon.org/doc/1316739/

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