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Conditional Gift Deed with or without possession
31-May-2023 (In Property Law)
Can a sole owner mother(88) of two properties in Maharashtra, gift them to her children with the condition that the rental income from these properties continue to be collected by her during her lifetime?Since the mother is immobile, she wants the children to attend important meetings related to redevelopment of these properties as physical presence is required to vote. Also, will the possession of these properties be transferred to the donees with this condition in the gift deed?
Gift Deed can be conditional but the Gift Deed will be valid if transfer of the property title is passed on immediately by the donor and accepted by the donee. So, in your case, a Sole Mother can gift the Properties to her children with the condition that the rental income from these properties continue to be collected by her during her lifetime.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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