If you are wondering can a gift deed be revoked you must know what a gift deed is. There are many ways to acquire a property. One of them is when a property is acquired by a gift deed. Meaning of a Gift Deed:The legal document which records everything related to a property when it is transferred to a family member by gift is called a gift deed.When can a property be considered as a gift?
The property should be movable or immovable.
It must be a transferable property.
The property should be tangible.
Section 126 of the Transfer of Property Act states that the donor or the donee must have a mutual understanding and the gift can be revoked or suspended by the donor at any time.Documents required for registration to cancel a gift deed:
Original copy of the gift deed.
Copy of Aadhar Card.
ID Proofs like voter card, pan card, driving license.
Sale deed
When can a gift deed be revoked?
If a donor and a donee do not agree on an event related to the gift of the property they can express a wish or desire to revoke the gift deed.
A gift can be revoked based on revocation by the recession. A gift of a property is a transfer of ownership without any exchange money. Therefore if both the donor and the donee do not have mutual consent the gift deed can be revoked.
Hello there. We received a property in the form of a gift deed a few years back. This was done to enable us to create a school on that land. However, we got to know that the gift deed is being attempted to be revoked. Luckily, we were aware of the legal steps to be taken. Hence, the matter was settled in our favour. So, for all those of you who do not know when gift may be suspended or revoked, keep reading.
Can Gift Deed be Reversed?
The answer is yes, a gift deed can be revoked by the donor as per Section 126 of the Property Transfer Act. However, this can only be done under certain circumstances. They are as follows.
A pact must be made between the two parties that are involved.
This pact must be stated in the gift deed where a certain event can lead to the revocation of the gift deed.
Post
Question
Can gift deed be revoked
✔In Progress
👁5721
Views
September 24, 2021
2021-09-24T16:32:20+00:00 2022-02-21T13:23:08+00:00Comment
2
Answers
Documentation
Share