GIFT DEED
3 months ago
MY UNCLE WAS REGISTERED A GIFT DEED IN FAVOUR OF HIS DAUGHTER. SO HE CAN CANCEL THE GIFT DEED WITHOUT HER PERMISSION. PLEASE CLARIFY SIR
A.Dear client,
A gift deed which is registered under Section 123 of the Transfer of property act cannot be revoked unless it fulfills some category.
The Property Transfer Act's Section 126 permits the revocation of a gift deed. If the person is later shown to be insane, has made the deed out of greed or other ulterior motives, does not actually own the property being gifted, or is in the process of acquiring it, the deed may be rejected. In order to mutually revoke the agreement at a later time, if necessary, it is advisable to include a revocation clause while drafting a gift deed.
Only if the deed talks about mutual revocation, the gift can be revoked.
Thank you
A gift deed which is registered under Section 123 of the Transfer of property act cannot be revoked unless it fulfills some category.
The Property Transfer Act's Section 126 permits the revocation of a gift deed. If the person is later shown to be insane, has made the deed out of greed or other ulterior motives, does not actually own the property being gifted, or is in the process of acquiring it, the deed may be rejected. In order to mutually revoke the agreement at a later time, if necessary, it is advisable to include a revocation clause while drafting a gift deed.
Only if the deed talks about mutual revocation, the gift can be revoked.
Thank you
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A.Dear Client,
Several factors can cause the cancellation of a Gift Deed. The reasons vary according to the given situation and per law and regulations under Section 126 of the Transfer of Property Act 1882. The cancellation or termination can be done by mutual consent of the donor and the Donee. The Gift Deed may be revoked by one of the parties by filing a declaration suit for cancellation of the Gift Deed before the Civil Court. According to Article 59 of the Limitation Act, 1963, a person who seeks to have the Gift Deed canceled (the plaintiff) has three years from the day he or she learns of the fact that entitles him to do so to have the Gift Deed cancelled or set aside. It cannot be revoked/cancelled unless the conditions for revocation are met or the Donee has accepted the property from the donor by any kind of duress/coercion or undue influence. They might decide to add a terminating clause in the Gift Deed for future occurrences. It is, therefore, suggested to take legal consultation to solve the matter with the help of a property expert lawyer in the right way.
Several factors can cause the cancellation of a Gift Deed. The reasons vary according to the given situation and per law and regulations under Section 126 of the Transfer of Property Act 1882. The cancellation or termination can be done by mutual consent of the donor and the Donee. The Gift Deed may be revoked by one of the parties by filing a declaration suit for cancellation of the Gift Deed before the Civil Court. According to Article 59 of the Limitation Act, 1963, a person who seeks to have the Gift Deed canceled (the plaintiff) has three years from the day he or she learns of the fact that entitles him to do so to have the Gift Deed cancelled or set aside. It cannot be revoked/cancelled unless the conditions for revocation are met or the Donee has accepted the property from the donor by any kind of duress/coercion or undue influence. They might decide to add a terminating clause in the Gift Deed for future occurrences. It is, therefore, suggested to take legal consultation to solve the matter with the help of a property expert lawyer in the right way.
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