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What is the procedure for Gift deed cancellation
25-Dec-2023 (In Property Law)
I have purchased and registered an farm land of 14750 sqft in chennai oragadam in 2007. I have written the gift deed to my father in 2012 due to my wife fake compilents in life and sperated in 2011. After 5 years of speration i have filled divorce cases 13b in july 2016. My wife attended 2 or 3 times and filled section 12 with false statement. Mean while i have to goto usa for next 3 years due to h1b visa for office work. My father nearing 80, we have made the gift deed due to safe guard the asset. Can we cancel the gift deed now. What is the process and procedure for cancel the gift deed and return back the asset in name back.
1) once gift deed is made you are 50%owner of property . title of property passes on from donor to donee .
2) cancellation of gift deed can be made with mutual consent of parties .
3)deed of cancellation has to be executed in this regard duy stamped and regsitered .
4)before you go in for cancellation please check whether other banks will sanction loan
5) since your wife is home maker no bank will sanction loan as she has no repayment capacity .
6) hence you have to be co applicant and for that property has to be in your name as co owner atleast
2) cancellation of gift deed can be made with mutual consent of parties .
3)deed of cancellation has to be executed in this regard duy stamped and regsitered .
4)before you go in for cancellation please check whether other banks will sanction loan
5) since your wife is home maker no bank will sanction loan as she has no repayment capacity .
6) hence you have to be co applicant and for that property has to be in your name as co owner atleast
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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How do you do a deed cancellation?
A civil court can cancel a sale deed under Specific Relief Act: HC. The HC ruled that a duly signed sales deed can be cancelled at the seller's request by a civil judge, according to Section 31 of Specific Relief Act. 10-Oct-2023
What are the grounds for cancellation of the gift deed?
Gift deeds are incomplete if they have not been registered, staff duties are insufficiently paid, the attestation is incorrect, the donee does not sign the deed or refuses to accept it. 27-Apr-2023
Can parents revoke gift deed?
If, for example, a property was transferred to children by their parent via a Gift Deed. A Gift Deed can't be cancelled or revoked unilaterally until the grounds for cancellation are established. The grounds for revocation are extremely circumspect and difficult to prove before a court. 08-Feb-2023
What is the Supreme Court decision on cancellation of gift deed?
The Supreme Court also ruled that a donors change of mind cannot invalidate a gift deed. In the case Sudesh Chakkara v. Ramti Dev
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