Gift & release deed
Anand
(Querist) 17 October 2012
This query is : Resolved
Hi,
Need your advice on the following 2 queries -
1. Can I take "gift or release within family" for the property from the legal heirs of my late paternal grand father. The property onus still remains with my deceased grand father.
2. Is it possible to revoke "gift or release deed within family" by the "releaser or gifter" in future.
Thanks in advance for your valuable advice.
NN
ajay sethi
(Expert) 17 October 2012
once gift deed is made and is duly stamped and regsitered property passes on to the donee . donor does not have nay interest in the property . if the gift has been obtained by fraud , undue influence donor can move court for cancellation of the gift deed .
in your case other legal heirs can relinquish rights in property . deed of relinquishment attracts nominal stamp duty
