SHILPA MAHAJAN (CA STUDENT) 04 August 2012

Validity of gift deed

Please clarify :-

1) whether a registered conditional gift deed is valid under law?

2) is there any way out to cancel an unconditional gift deed?

3) If doner is a person in depression, is the gift deed(even if registered) valid under law?

4) can a gift deed be revoked or cancelled or modified by the mutual consent of doner and the donee?

Reply Follow

2 Replies

Ajit Singh Cheema (practising Advocate) 04 August 2012

For query 1 and 4 the reply is provided under section 126 of Transfer Of Property Act ," The donor and donee may agree that on the happening of any specified event,which does not depend on the will of the donor, a gift shall be suspended or revoked.

2)The gift deed is as good as sale deed, so it cannot be cancelled.

3)The donor must be suit juris.He must ,therefore, have attained the age of majority, possess a sound mind and should not be otherwise disqualified. Only such persons can effect transfer of property who are competent to contract.