Reason for gifting
shyam lal
(Querist) 03 October 2021
This query is : Resolved
Is it warranted by law to give reason/reasons as to why one wants to gift his share of immovable property particularly to a third person & not to any blood relation.
If yes then what should be the appropriate one which would be appreciated in the eyes of the court/registrar.
K Rajasekharan
(Expert) 03 October 2021
A person can give any property he owns as gift to any third person without assigning any reason, as per law.
Gift is the gratuitous transfer of certain existing moveable or immoveable property, made voluntarily and without consideration by one person to another person and accepted by or on behalf of the latter.
The transfer must be based on free will and not without duress, force or undue influence.
kavksatyanarayana
(Expert) 03 October 2021
Yes. I agree with the advice of the above learned expert Mr. Rajsekharan Sir. Gifting is an act, through which a person voluntarily transfers certain or all rights in an asset owned by him to another person, without any consideration.
