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How do I transfer a property as a gift deed?
How to make Gift Deed for property? As per the Transfer of Property Act, the transfer of a house property under a gift, has to be effected by a registered instrument/document, signed by or on behalf of the person gifting the property and should also be attested by at least two witnesses.
Is mutation required for gift deed?
Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. Mutation is necessary to transfer utility connections in the name of the recipient. Also, for the recipient to be able to further transfer the property, a registered gift deed will be required.
Can gift deed be challenged in court?
The gift deed can certainly be questioned in the court of law by filling a suit for such declaration. However, it will be challenged only if you are able to establish that the execution of the deed was not as per the wish of the donor or was executed under misrepresentation, fraud etc.
Can gifted property be taken back in India?
Gifts are governed by the Indian Contract Act, 1872. The law provides that any gift that is made and accepted by the donee, is final and cannot be revoked later on. The Supreme Court has held many times that a gift once validly made, cannot be cancelled later on, under any circumstances.
Can gifted property taken back?
1. Gift Deed, is always irrevocable. Hence Gifted property cannot be claimed back, UNLESS & UNTIL it is legally proved that the Gift Deed was conducted under Threat /Coercion /Mental illness /others.
Can you take back a gift deed?
Gift once given cannot be revoked. Gift deed s irrevocable. So once the gift deed s registered it becomes the sole property of the donee I.e., person who received the gift. But in case if the said deed was registered due to threat fraud or by force then it can be revoked and the same has to be proved before the court.
What are the documents required for gift deed?
Documents required for Gift Deed registrations
- Original Gift Deed.
- ID Proofs, like Driver License, Passport, etc.
- PAN Card.
- Aadhar Card.
- A document like Sale deed to prove donor title to the Property.
- Other Agreements which you might have entered into in relation to property.
Is a deed of gift a legal document?
A deed of gift is a signed legal document that voluntarily and without recompense transfers ownership of real, personal, or intellectual property – such as a gift of materials – from one person or institution to another.
How to transfer immovable property through a gift deed?
Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through a gift deed. Like a sale deed, a gift deed contains details of the property, the transferrer and recipient.
What are the documents needed for gift deed registration?
The presence of the donor and receiver is imperative in the registrar’s office at the time of registration. Also, the stamp duty and the registration payment must be made to register a Gift Deed. The following are the documents needed for gift deed registration. Identification proof driver’s license, passport, etc.
What is the meaning of gift deed?
A gift deed is a legal document that describes voluntary transfer of gift from the donor (owner of property) to donee (receiver of gift) without any monetary favor in return. A gift deed for immovable property involves the gifting of some immovable property like a house.
When to apply for mutation of a gift deed?
Besides that, once a gift deed is registered in the name of the recipient, only then can she apply for mutation of the property. Mutation is necessary to transfer utility connections in the name of the recipient.