Can a gifted property be taken back
I was gifted a plot (market value was Rs. 25000/-) by a gentleman long back in 1995. Now he is asking the registration papers without quoting any reason. I suspect that due to shootup of land prices, he, probably intend to get back that gifted plot from me, which I have already sold to someone else (at Rs. 75000/-). Is he eligible to get back that gifted plot from the actual owner now? and if yes, who will pay the compensation to present owner (Present market value of that plot is Rs. 20 lakhs). Please advice me what to do.
Asked in Property Law from Chittoor, Andhra Pradesh
Hi, once you gifted the property it can't be cancelled by the person who gifted the property for any reason........ so you don' worry about that......... once u gift the property it can't be cancelled.
if gift deed was executed and document duly stamped and registered in 1995 you became absolute owner of property . donor cannot claim any rights on said property . inform the donor that you have already sold the plot and hence not possible to return the plot
A gifted property cannot be taken back once the gift deed is registered and stamped. In terms of the gift made by him in 1995 you became the absolute owner of the property capable of dealing with it in the manner you desire. The ownership rights now vest in the person to whom you sold the plot.