Can son gift property to mother?
Can son gift property to mother?
Who can give Gift Deed? The owner of an immovable property can gift it to a relative or a third person. A gift is considered valid only if it is made voluntarily and without consideration.
When can a gift be revoked?
A gift may be revoked only by a mutual agreement on a condition by the donor and the donee, or by rescinding the contract pertaining to such gift. The Donations mortis causa and Hiba are the only two kinds of gifts which do not follow the provisions of the Transfer of Property Act.
Can someone take back something they gave you?
When someone gives another person a gift, the gift becomes the personal property of the recipient. This means that the recipient can use the gift in any way he or she wishes. The only time someone can ask for a gift back is if the gift was given in exchange for a promise. This is known as a conditional gift.
How a gift made can be revoked?
Section 126 of Transfer of Property Act, 1882 specifies as to when a gift can be suspended or revoked: If the donor and donee agree that on the happening of a specified event which does not depend on the donor’s will, the gift shall be revoked. Any of those cases in which if it were a contract, it might be rescinded.
What are the two types of conditional gifts?
There are two basic conditions that can be put on gifts in wills:
- Condition Precedent: A condition precedent is a condition that must occur before any gift is made.
- Condition Subsequent: A condition subsequent applies to gifts which are given without condition.
Can Hiba be revoked?
Hiba is only one of the aspects covered by the Transfer of Property Act under the term ‘gift’. Surprisingly enough, all gifts are revocable before the actual transfer of property is made (i.e.) any person can unilaterally revoke his or her promise to gift before the promise is fulfilled.
Can son gift property to Father?
Yes. son can gift his own land to his father as a gift through a gift deed. Once your father accepts the gift made by son and if it is duly stamped and registered then father shall become absolute owner and the gift deed can not be revoked and legally son will have no right to claim any right on the property.
