Can a gift deed be cancelled..?

gift deed once done by donor to donee, and if it is accepted it  is complete, donor cannot unilaterally cannot cancel, it, given the situation u father sister has a case.

In the final analysis, a gift is a contract. That is why the words "Gift DEED". One notes that the  taxes/duties/stamp fees, if not paid, are the responsibility of the donee. This in itself is an indication of finality; in favour of the donee. 

Lack of registration is no option to repossess the gift. In fact, even when the gift involves movable property, the same rule applies. As in a contract, where offer and acceptance is sacrosanct, a gift has to be offered and accepted. End of story.

Bapoo M Malcolm

Dear Mr. BAPOO M. MALCOLM

Before died in 2010 , my father did a registered will in 2008 where he has mentioned 100% property in my name.

Now I am having my mother and my younger married sister . They were not aware of the will, which I explained recently and I have negotiated with my sister to get her consent for file petition for the probate. I am interested to develop the partial land and my developers suggested to go for gift deed instead of probate the will as gift deed will take very less time compare to probate .

Please do suggest , Is there any % of problem may arise to go gift deed option instead of probate. I don't want to put myself in any problem which will take more time to become owner of the said property . Post development , if the buyer do searching , whether they will come to know that a will was exists on this land and that has been not opted for probate . 

Yes, I am interested for faster process but that should be problem free . Please share your valuable suggestion . As per condition with my developers in both case all payment will be made by him , Is there any hidden tax or anything will be there which may later comes to me .

Dear Dev,

Tell me very honestly. If you had diarrhoea, would you go to your doctor or your developer? Why do people shy away from seeking legal advice from competent lawyers? Am sure that advocates can be found that charge reasonably.

Without the probate in your favour, I do not think you have any right to gift anything. Moreover you cannot accept part of a legacy. It is called "electing" out. That means you either take the full legacy or take nothing. If you think there is no opposition to you benefitting, then the probate should be no problem. Maybe the advocate will charge less. Please remember "HASTE MAKES WASTE".

WHERE ARE YOU SITUATED, WHERE IS THE PROPERTY SITUATED? Do not take short cuts and keep everything above board. Only then will you succeed.

Bapoo M Malcolm

Sir ,

Thank you very much for your reply . I mean to say gift deed by my mother & sister in favor of me in lieu of probate . Yes , being a lay man on legal matter I don't know what are the hidden matter hence asking for your suggestion . I really thankful for your kind suggestion to me to avoid short-cut method . I was only looking for if any scope but on the same time that should be hassle free . I don't think opposition is there as I mutually communicated/negotiated  with my sister on this .

Option A - Go for probate / Option - B - Gift deed by my mother & sister to me , post that develop partial land . Total Area - 5 Katha .

Properly is in Kolkata , currently I am living there with my wife & children(2) in 2nd. floor , mother in 1st. floor . Gr. floor on rent .

My mother is 69 years old and sister is married .

PLEASE DO SUGGEST WHETHER I SHOULD GO FOR OPTION A OR B , I came to know option B will take less time compare to Option A but I prefer a smooth transition .

Dear Dev,

Please make up your mind. At one point you say your father has bequeathed 100%, i e  all his assets to you. Then you say your mother and sister are willing to gift their share to you. How can they gift anything, when they own nothing, of your father's estate?

There is Latin saying;" Nemo debet quod non habet". It means that no one can give what he does not own. Either there is lot that we have not discussed or someone is fooling you.

NOW GET A GOOD LAWYER. There is no other way or you will make a mess of things, the developer may be the only one to gain and you can say bye-bye to the assets through litigation or worse. A PROBATE SEEMS THE ONLY WAY OUT.

GOOD LUCK.

BAPOO M MALCOLM

 

Dear Dev,

You may like to follow some seminars on wills where some of your questions are similar to the ones that agitate you.

The link is 

Article and pictures: https://foundation.moneylife.in/?th_galleries=moneylife-foundation-event-on-how-to-write-your-own-will

 

Video: https://www.youtube.com/watch?v=ufXsUBHZqDY

 There are three seminars videographed. See all of them, IF YOU HAVE THE TIME. But remember, THERE IS NOTHING LIKE A GOOD LAWYER TO ASSIST YOU.

BAPOO M MALCOLM

Dear Dev,

You may like to follow some seminars on wills where some of your questions are similar to the ones that agitate you.

The link is 

Article and pictures: https://foundation.moneylife.in/?th_galleries=moneylife-foundation-event-on-how-to-write-your-own-will

 

Video: https://www.youtube.com/watch?v=ufXsUBHZqDY

 There are three seminars videographed. See all of them, IF YOU HAVE THE TIME. But remember, THERE IS NOTHING LIKE A GOOD LAWYER TO ASSIST YOU.

BAPOO M MALCOLM

Sir , The same question came to my mind as well , how they can gift but the lawyer appointed by the developer explained me like as the probate has not done hence the property is likely to be divided into three members - me, my sister & my mother and thus other two can gift their part to you [ me ] and myself will become the owner of whole property post gift deed . As this has been told by the developer's appointed lawyer hence I can't believe in full . At the same time I coordinated with my lawyer who has done the will , he is suggested to go for probate . Anyway I have gone through the link you have provided , thanks for the information on will .

Dear Dev,

THERE IS A SAYING THAT CLIENTS ARE THEIR OWN WORST ENEMIES  . IF YOU WERE IN CONTACT WITH YOUR LAWYER, WAS IT ETHICAL ON YOUR PART TO CONCEAL THE FACT FROM ME?

I AM SORRY BUT I CANNOT CONTINUE THIS CORRESPONDENCE ANY FURTHER.

GOOD LUCK.

BAPOO M MALCOLM 

Sir ,

Don't mistake me . As two lawyer are saying different statement , am become confused which path to be followed . That's the reason taking third expert opinion , who will suggest me correctly and I can follow accordingly . Its my problem , I fail to make to understand correctly causing making you confused and frustrated upon me for which I don't have any other word rather to say a BIG SORRY for the matter . But my intension was to come to a conclusion based on the scenario .

Once again sorry but really I am seeking for help only .