- Can I gift my property to my son?
- Can a registered gift deed be Cancelled?
- Can donee sell the gifted property?
- Is NOC required for gift deed?
- Can father gift property to one son?
- Does challenge time limit?
- Can I sell my gifted property in India?
- Can Mother gift property to one son?
- Can a registered gift deed be challenged in India?
- Can a gifted property be taken back?
- Can gift deed be challenged by legal heirs?
- Which is better a will or a gift deed?
Can I gift my property 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 a registered gift deed be Cancelled?
When a gift is incomplete and title remains with the donor the deed of gift might be cancelled. That there is no provision in law that ownership in property cannot be gifted without transfer of possession of such property.
Can donee sell the gifted property?
Yes, the property received under Gift Deed can be sold. Provided, that you have received the property under registered Gift Deed without any condition attached. … Donor and Donee both can challenge the gift. In case, of the demise of either party, their legal heirs can take legal actions.
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 father gift property to one son?
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.
Does challenge time limit?
File legacy suit within 12 years of a Will’s execution.
Can I sell my gifted property in India?
Yes you can sell it, it is your property now and you can do anything you deem fit. A gift deed cannot be conditional. Therefore this clause is a nullity and hence, you are free to sell your share. Basically a gift deed with conditions is not valid in law.
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.
Can a registered gift deed be challenged in India?
Yes. A Gift deed being an instrument for transferring the rights in the property can be challenged in India. Gift: A gift is a gratuitous transfer of property by a donor to a donee voluntarily.
Can a gifted property be taken back?
Basically, under the Indian Contract Act, 1872, once a property is gifted and accepted by the recipient is conclusive, it can’t be repudiated later on. … The Court made it very clear that once the property is gifted, it can’t be taken back in any condition.
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.