shanti (manager ) 28 February 2013
My mom is selling a property which is an ancestral property whihc she has inherited by way of my dads will. she wants to gift her four children some money. Does shee need to make a gift deed? does the same need to be registered? what would be the registration.
Pls advise suitably.
Ajit Singh Cheema (practising Advocate) 02 March 2013
Ownership of movable property can be transferred by delivery . As such handing over of the money ,voluntarily ,without consideration by the donor and its acceptance by the donee shall complete the transaction of gift .It will not require registration.
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