If you are confused between the settlement deed, and the gift deed between brothers. Let’s explore the differences between both.
Gift Deed:
Purpose: A Gift Deed transfers property from a donor to a donee without any consideration (money exchange). It’s voluntary and irrevocable once executed and registered.
Parties: Involves two parties – the donor (your maternal uncle) and the donee (you).
Registration: Must be registered with the Sub-Registrar’s office.
Revocability: Irrevocable unless both parties agree or due to fraud, coercion, or undue influence.
Gift Settlement Deed:
Purpose: Used to resolve property disputes among family members and distribute assets amicably.
Parties: Typically involves multiple family members or legal heirs.
Registration: Optional (but advisable for immovable property).
Enforceability: Binding agreement enforceable by law.
Given your situation, a Gift Settlement Deed may be more appropriate to ensure fair distribution.
I hope this helps!
Get Your Gift Deed Drafted & Verified Via Legal Experts at NoBrokerRead More:
What are Will deed and Gift deed?
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Hey there,
I have read your question about how do you transfer property in blood relations. Let me answer that for you.
Under section 122 of the Transfer of Property Act, 1882. One can transfer immovable property through a registered gift deed. According to Section 17 of the Registration Act, 1908. It is mandatory to register a Gift Deed.
Your cousin brother can execute the settlement deed or gift deed under his name for his part of the property. Nevertheless. He will be unable to execute the gift deed in your favour. For registration of the gift deed and other processes, you need to be present in actual.
I would recommend consulting with a lawyer to explore all options.
If you want help with scrutiny of technical documents and reports. Contact NoBroker Legal Services
I and my cousin brother had to share a property through a will executed by my maternal uncle(cousin brother's father).My cousin brother is in USA.Can he execute a settlement deed or Gift deed in my favour
Ramesh.M
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3 Year
2022-01-27T12:13:49+00:00 2022-01-30T20:17:12+00:00Comment
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