Giftdeed cancellation
vinod
(Querist) 30 March 2015
This query is : Resolved
hi sir/madam,
i have gifted in 2007 my 1/4th share(grand father property) to my elder brother with out any consideration in some worst circumstances, on this document my brother taken business loan from bank by putting this document as collateral surety. But my elder brother already made a gift deed of my share, my mother share & my father share in his name in the year 2006 without our knowledge and taken another loan from another bank and playing games with us.This is absolute fraud.Now my request is what kind of action i have to take on him.Please help me out from this issue.
Devajyoti Barman
(Expert) 30 March 2015
Gift deed once done cannot be cancelled unless force or fraud behind execution of gift deed is proved.
If you clarify more on the issue of ' fraud' then further advice can be given.
Rajendra K Goyal
(Expert) 30 March 2015
After gift deed property belong to your elder brother and he is authorized to take loan by mortgaging it.
malipeddi jaggarao
(Expert) 31 March 2015
How your brother can take loan on the share of your property? What is the document you have to claim your share? What documents your brother has given to the Bank while availing the loan? Without this information, no advice can be given.
As regards your first part of the query that you have executed gift deed for your share in favour of your elder brother, he is free to deal with the property once gift deed was registered.
Two issues are different and do confuse and club the issues.
Raj Kumar Makkad
(Expert) 31 March 2015
I do agree with the advice and observation of jaggarao. You are required to be clear while raising your query at least on the relevant facts.
T. Kalaiselvan, Advocate
(Expert) 02 April 2015
