Gift deed

Mam,

I mean challinging gift deed is not an issue, but since the same has been validly made and the property has been transferred legally, it becomes a little challenging to get the same set aside, but yes the circumstances and the time when the same were being given matters.

Warm Regards

Kapil Chandna Advocate

9899011450

What do you mean by "both the parents decides to transfer the property through gift deed in the year 2011". Do you mean that the parents want to give back to the son the property through a gift deed? The son had fully financed the purchase of the property when he was abroad. Now he wants back the property in his own name. It is not a gift. If the son has evidence for the money transactions to show that he paid for the property in full, getting back what was his would not be a gift. Any transaction is valid only if consideration flows in the opposite direction. In the case of gifts things such as "affection" will be the consideration. In the transfer deed from parents to son you mention that the property was financed by the son but was purchased in the names of the parents as the son was abroad and now the son is taking back the property from his parents. That will be iron clad security that the son is the real absolute owner of the property. You may achieve the same through a gift deed. But take as gift what is already one's own. If the son has siblings they may  also challenge a gift-deed. They may not be successful. But that is another matter. If the gift deed was already executed in 2011, the fact that the son paid for the property can be retained as an ammunition against any claims from any quarter.