LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

ichetan (None)     08 October 2013

Gift of plot of land jointly held

Hello:

My Mother had bought a Residential Plot of Land in Karnataka from her own income and later introduced my name by means of an Affidavit due to her old age. However, she has now changed her mind and wants to Gift the same to one of my Sisters [Say A]. I have no objection in her gifting the same to my sister. My other sister [Say B] also has no objection currently to my mother's intention

1. I would like to know if we both[Me and My Mother] have to execute the Gift Deed as Donors or only if my mother executes will that be sufficient ?

2. Can at a Later stage my other sister [Sister B] claim rights on the title which shall be then held by my Sister A ?


Thanks for your time and help,

Chetan



Learning

 1 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     11 October 2013

1.  By law, the Mother is the 100% "Title-Owner" of the property.  AND only she is entitled to make Gift Deed favoring anybody she wishes.  Such Gift Deed is final and irrevocable, for all purposes.


2.  Any subsequent addition of names, via a affidavit, shall be termed as "Nomination" for convienence purposes, without altering the Mother's 100% "Title-Owner" of the property.


Keep Smiling .... Hemant Agarwal
https://hemantagarwal21.blogspot.in/?view=sidebar


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register