What is difference between gift deed and release deed?
What is difference between gift deed and release deed?
In release deed all documents related to the transfer of immovable property, need to be signed by both parties, registered and stamped. Gift deed is formed between two parties without any consideration, where as release deed needs a consideration for being a valid deed.
Can a gift of property be revoked?
A gift is valid and complete on registration. A deed of gift once executed and registered cannot be revoked, unless the mandatory requirement of Section 126 of Transfer of Property Act, 1882 is fulfilled.
What is revocation of gift?
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; but a gift which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be.
When can a gift be suspended or revoked?
Thus, under Section 126, a gift can be revoked on any grounds on which its contract may be rescinded. For example, Section 19 of the Indian Contract Act makes a contract voidable at the option of the party whose consent has been obtained forcefully, by coercion, undue influence, misrepresentation, or fraud.
Is a conditional gift enforceable?
A conditional donative promise is no more enforceable than any donative promise. This is true even if the condition has been fulfilled. However, if the parties view performance of the condition as the actual price of the gift, then there is a bargain and the promise is enforceable.
What is actionable claim?
Actionable Claim: is a claim to any debt, other than secured by mortgage of immovable property or pledge or hypothecation of some movable property, or to any beneficial interest in movable property, not in possession either actual or constructive of the claimant.
Which of the following is an example of actionable claim?
Some examples of actionable claims are: Claim for arrears of rent. [3] Claim for money due under insurance policy.
Are actionable claim goods?
Actionable Claims are applicable only for goods and not for services. Section 2(52) of the CGST Act defines goods as every kind of movable property other than money and securities but includes actionable claims, growing crops, grass and things attached to land which are agreed to be severed before supply.
What is goods under Sale of Goods Act?
‘Goods’ is defined as per Section 2 (7) of the ‘Act’ as. “Every kind of movable property other than actionable claims and money; and includes stock and shares, growing crops, grass, and things attached to or forming part of the land which are agreed to be severed before sale or under the contract of sale.”
