Gift deed
lakshmi
(Querist) 19 March 2014
This query is : Resolved
Dear experts,
Please let me have a clarification:
If my mother transfer her property to her son by a "gift deed", then is it possible for her son (to whom she has gifted) to sell that property?
Whether the property earned through gift deed will have the same validity and value as of "sale deed"?
Please clarify.
Regards,
ajay sethi
(Expert) 19 March 2014
yes son can sell the property .he is absolute owner of the property . he can dispose it as he pleases
BAALASUBRAMANNYAMM
(Expert) 19 March 2014
The face value of a Gift Deed and Sale Deed is different.In Gift Deed, the transfer of property is purely depending on love and affection of the Donor on Donee and that there is no question of "consideration" by way of amount, is involved. And in a Sale Deed,the total transaction is depending upon a "consideration of amount" paid by Vendee to the Vendor. Even though the transfer of rights is one and the same for both the proceedings, the payment of registration fees are different. In either ways, the Denee or the Vendee, entitled to alienate the property to any body, as per his/their will. No body have right to object.
lakshmi
(Querist) 19 March 2014
Thank you experts,
Here she has 3 sons and 1 daughter (me). It is self acquired property. Out of 3 sons, 1 son is living with her in that house. The other two, does not want to live with her due to small controversies in the family and left the house and staying separately from last about 10 years. Now because of property ownership, one son out of two would like to come back and live together. But my mother does not want this to happen. Instead she want to dispose off this property without the knowledge of this son, since this son is not agree/willing to sell or transfer the property to any one. He needs all for him only or for all the four. If she transfers the rights to all four, then the opportunity of buying this property is very less as all the four of us will be involved for everything. So she is thinking to make gift deed to one son, who is living with her now and then sell it and disburse the consideration amount to all by keeping some percentage for her. Please let me know whether this idea will be ok. And what will be the percentage in this disbursement. How it will be done?
Suhail A.Siddiqui
(Expert) 20 March 2014
Registered Gift Deed and Registered Sale Deed is giving equal rights.
