Gift deed and possession of property
Jai Prakash
(Querist) 20 August 2013
This query is : Resolved
Hi Sir,
My father would like to gift the self-acquired property that he has obtained during his life time.
I live in Bangalore, while the property is in Mysore. I understand that there is some clause that the possession of property should be taken to make the gift valid. As I am unable to physical possess the property, is there any issue with such a gift deed.
Please advice
Thanks
Jai Prakash
M.Sheik Mohammed Ali
(Expert) 20 August 2013
its valid gift, dont fear that, gift means the property immediately transfer into some one, if your father make a will, the will of the property will come after demised. this is concept.
prabhakar singh
(Expert) 20 August 2013
Handing over physical possession does not mean handing over a boy given in adoption from one lap to other lap.
Who is occupying the property? Tenants!
Is it open land or a building?
Merely declaration in the gift deed that donor hereby gifts the property accompanied with possession to the donee which donee hereby accepts and takes over the possession is sufficient after two witnesses attest the signatures of doner and donee.It would be bilatral deed and donor and donees along with two attesting witnesses presence at concerned subregistrar office in whose jurisdiction property situate in Mysore would be must.
In case donee can not be physically present his registered POWER OF ATTORNEY CAN ACCEPT THE GIFT AND POSSESSION ON HIS BEHALF.
Jai Prakash
(Querist) 20 August 2013
My brother is currently living there along with my parents, this is a house.
Subsequent to executing the gift deed, is there any procedure to let my parent continue to stay in this house, do I need to execute any legal contract
Rajendra K Goyal
(Expert) 20 August 2013
They can continue to stay on your behalf as care taker or otherwise.
Raj Kumar Makkad
(Expert) 21 August 2013
Your father can definitely gift that property in your favour but it shall be better if you spare some time to get it execute at the place wherein your father is residing so that it may be got registered at that place and your parents can definitely do reside in that house and this term can also be mentioned in that deed.
Pawan
(Expert) 22 August 2013
It is advisable if you can get the gift deed registered at sub-registrar office under whose jurisdiction such property falls.
Your father can very well gift you the property.
