What is the procedure for Gift Deed Cancellation
srikanth
(Querist) 10 May 2011
This query is : Resolved
Hi,
Kindly let me know the procedure for cancelling the registered Gift Deed property i.e., I want to cancel the registered Gift property and want to give back to the owner who gifted me that property.
Thanks in anticipation.
M.Sheik Mohammed Ali
(Expert) 10 May 2011
you can approach register office along with register deed, and cancel the deed,
abhay dholakiya
(Expert) 10 May 2011
in my sence you give them proper reason to cancel deed
sanjeev murthy desai
(Expert) 10 May 2011
Dear Srikant,
You just execute another gift Deed in favour of earlier owner.
Right of cancellation of Gift Deed Donor should have to reserved his rights in such Gift Deed otherwise owner should have to file a suit for cancellation of Gift before the jurisdictional Hon'ble court to cancel the earlier gift Deed. Hence another gift deed is advisable.
M/s. Y-not legal services
(Expert) 11 May 2011
Yes. Me too agree with mr.sanjeev. You may follow it. Because if you once accept the gift , and the possession handed over to you mean both of you can't break it. But this is very good alternative way. Just follow it.
Sri Vijayan.A
(Expert) 11 May 2011
Donor and Donee can execute a cancellation deed and register the same.
Guest
(Expert) 11 May 2011
Since you are the donee and you want to retuen the property to the original gift maker, the task is quite simple. You will have to prepare another gift deed making a clear mention that the property (with complete particulrs) was originally gifted to you by .........................., , wide gift deed dated ......... The said property is being retuned back to the original donor with the present deed in cancellation of the previous gift deed, dated ........., registered vide .......
Both of you may sign the deed. Both Cancellation and re-gifting may complete simultaneously.
