Grounds for Cancellation of Registered Gift Deed: If you have given any property like your house, house, shop, farm to someone as a gift. And now you want to get it back in your name? So what legal avenues do you have left? With the help of which you can get the property back. You will get many types of information about Gifted Property in this news.
this is the right way
Property means ‘gift’ in the eyes of law. It has been kept in section-122 of the Transfer of Property Act, 1882. The meaning of gifting a property is that the owner of that property has transferred it in the name of another person of his own free will and in return he has not taken any money from the recipient of any property. Only then the process of gift giving is completed. When the gift giver transfers the property to the beneficiary and the person receiving it accepts it.
Sale deed and gift deed
In Sale Deed, you transfer your property in the name of another by taking money i.e. its value. In the sale deed you are selling any of your property for what price. The government also collects stamp duty on sale deed. Gift Deed is done when you are transferring your property free of cost, without taking any value. Generally, a person can gift a property only to a close relative.
property can be taken back
Legally, the property received in the gift cannot be taken away. If the gift giver has gifted his property of his own free will to another person and the other person has accepted the same. If the ownership of the property is transferred to the new owner, then this transaction cannot be canceled under normal circumstances. But it can happen in some exceptional circumstances.
Property can be got back like this
- The property given in gift cannot usually be returned. Section 126 of the Transfer of Property Act deals with the circumstances in which the gift deed can be cancelled.
- If both the giver and the receiver of the gift agree on this point, the gift deed can be suspended or canceled by mutual consent.
- If the property has not been transferred despite the signing of the gift deed and the giver of the gift later changes his/her decision, then the gift deed can be canceled at his will.
- Gift property acquired by fraud or coercion can be cancelled.
- If the gift deed contains any provision as a necessary condition for gifting the property, then the gift can be canceled even if the same is not fulfilled. For example, if a father gifts his property to his son with the condition that he will take care of him for life and later the son does not fulfill this responsibility, then the father can claim the property back by canceling his gift deed. .
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