About gifted land, father has gifter a land to a single son?.
21-Apr-2023 (In Family Law)
Father has 3 sons, he already gifted land to one son and now he is also ready to gift the same land for other son is it possible?
Dear Sir,
The father cannot create another Gift Deed in respect same property without cancelling first Gift Deed. Further for cancellation first Gift Deed the consent of his son in whose favour it was executed is necessary. The law is as follows:
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Gift Deed – once registred no cancellation
A gift is a money or house, shares, jewellery, etc. that is received without thought, or merely an asset acquired without making a payment against it and is a capital asset for the ‘Recipient.’ It can be as cash or movable property or immovable property.
If you might want to gift the property to any of your blood relatives, Gift deed can be used. In the case of immovable property, it is required to register the Gift Deed as per Section 17 of the Registration Act, 1908.
This kind of transfer is unavoidable. When you gift the assets like land, it belongs to the beneficiary or receiver of the gift and you cannot switch the transfer or even ask money related compensation.
It can be a cost effective method of transferring the ownership.
The father cannot create another Gift Deed in respect same property without cancelling first Gift Deed. Further for cancellation first Gift Deed the consent of his son in whose favour it was executed is necessary. The law is as follows:
=====================================================================
Gift Deed – once registred no cancellation
A gift is a money or house, shares, jewellery, etc. that is received without thought, or merely an asset acquired without making a payment against it and is a capital asset for the ‘Recipient.’ It can be as cash or movable property or immovable property.
If you might want to gift the property to any of your blood relatives, Gift deed can be used. In the case of immovable property, it is required to register the Gift Deed as per Section 17 of the Registration Act, 1908.
This kind of transfer is unavoidable. When you gift the assets like land, it belongs to the beneficiary or receiver of the gift and you cannot switch the transfer or even ask money related compensation.
It can be a cost effective method of transferring the ownership.
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