- Can a father gives all his property to one child?
- How a gift can be revoked?
- Can gift deed property be sold?
- What is the difference between release deed and gift deed?
- How do you challenge a release deed?
- When can a gift deed be revoked?
- Can gifted property be taken back?
- How do you revoke a gifted property?
- Is NOC required for gift deed?
- Can I gift my house to my son?
- Can gift deed be challenged by legal heirs?
- Which is better a will or a gift deed?
- Can release deed be challenged?
- Can gifted property be transferred through gift deed again?
- Can Mother gift property to one son?
- What does a deed of release mean?
Can a father gives all his property to one child?
A father cannot freely give the ancestral property to one son.
In Hindu law, the ancestral property can be gifted only under certain situations like distress or for pious reasons.
Otherwise, the ancestral property cannot be given away to one child to the exclusion of all others..
How a gift can be revoked?
A gift can be revoked if the donee fails to adhere to the conditions laid down by the donor at the time of drawing up of the gift deed. … Once a property has been gifted to the donee, the donor cannot subsequently revoke or cancel the gift. A unilateral cancellation of a valid gift is invalid.
Can gift deed property be sold?
Yes you can sell it, it is your property now and you can do anything you deem fit. A gift deed cannot be conditional. … Basically a gift deed with conditions is not valid in law. Donor cannot cancel the registered gift deed unilaterally .
What is the difference between release deed and gift deed?
A gift deed allows one to gift his/her assets or transfer ownership without any exchange of money. … A release deed is quite different from a gift deed, though the legal implications are the same. Unlike a gift deed, you can draw the release deed for monetary consideration.
How do you challenge a release deed?
U can`t challenge it. Minor has no right to challenge and claim in property. If your mother and other siblings have executed a registered release deed relinquishing their rights in your favor especially when there was a consideration passed for this, then your mother’s will or settlement deed is not valid in law.
When can a gift deed be revoked?
As per provisions of Section 126 of the Transfer of Property Act, if the gift is conditional and donee has not fulfilled the condition, then donor may get some right to revoke the gift.
Can gifted property be taken back?
The Court made it very clear that once the property is gifted, it can’t be taken back in any condition. … Therefore, technically, if the property has been gifted under the Maintenance and Welfare of Parents and Senior Citizens Act, 2007, can be taken back.
How do you revoke a gifted property?
A gift deed can be suspended or revoked either by a mutual consent of the donor and the donee or by rescinding the contract between the two parties. If the donor and the donee mutually agree on revocation of the gift deed, then it will stand suspended.
Is NOC required for gift deed?
There is no requirement under the Act and the Rules mentioned above for a donor (the person gifting the property) to obtain a no-objection certificate (NOC) or a confirmation letter of any kind from the society to gift her flat to any person.
Can I gift my house to my son?
For starters, the transfer of immovable property such as a house or flat from a parent to his or her child is considered a gift. … The best part, however, is that neither you nor your child will have to pay any taxes for this transfer of property. Just make sure that you get the gift deed registered without fail.
Can gift deed be challenged by legal heirs?
The gift deed can be questioned by filing a suit for declaration in the court of law. However, it will be challenged only if the person is able to establish that the execution of the deed was not as per the wish of the donor and was executed under fraud, coercion,misrepresentation etc.
Which is better a will or a gift deed?
Under a gift deed, the asset is transferred immediately. A gift comes into effect during the lifetime of the donor unlike the will that takes effect after the death of the testator. … A gift deed is a better alternative to distribute assets so as to avoid disputes among the legal heirs.
Can release deed be challenged?
Yes, you can challenge the release deed/ relinquishment deed after the death of the person. but to challenge it you need to have solid grounds and proof stating that the deed was made fraudulently. if you dont have any proof then their is no point challenging it as the case may not sustain merit in the court.
Can gifted property be transferred through gift deed again?
Under section 122 of the Transfer of Property Act, 1882, you can transfer immovable property through 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.
Can Mother gift property to one son?
That’s where all children will have equal rights and you can demand a partition after your mother’s death. 2) If the property was self acquired by the grandmother her gift to your mother is absolute. … If she gifts it to only one of her sons no one can file a suit against the same or seek a partition.
What does a deed of release mean?
A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.