Gift deed
Chetan Pardakhe
(Querist) 29 July 2012
This query is : Resolved
In Gift Deed
Who have to purchase the Stamp Paper donor or Donee ?
what is the effects if donee purchased the stamp paper ?
whether the presence of donee and their signature are required at the time of exection of gift Deed ?
ajay sethi
(Expert) 29 July 2012
it is advisable to have stamp paer purchased in name of donor.
Section 123 of the T.P.Act reads as follows:
123. Transfer how effected.- For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.
donee presence is not necessary .
ajay sethi
(Expert) 29 July 2012
In Kushalchand Swarup Chand v. Sureshchandra Kanhiyalal (1995) 1 S.C.J. 119, the Supreme Court observed as follows:
Section 123 of the Transfer of Property Act, 1882 postulates that for the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor and attested by at least two witnesses. In Section 3 of the Act 'attestation' has been defined, - in relation to an instrument, it shall be deemed always to have meant attested by two or more witnesses each of whom has seen the executant sign or affix his mark to the instrument, or has seen some other person sign the instrument in the presence and by the direction of the executant, or has received from the executant a personal acknowledgment of his signature or mark, or of the signature of such other person, and each of whom has signed the instrument in the presence of the executant; but it shall not be necessary that more than one of such witnesses shall have been present at the same time, and no particular form of attestation shall be necessary.
Chetan Pardakhe
(Querist) 29 July 2012
Thanks lot Ajay Sir
U have clear all doubts
