I have one younger brother and elder sister and my sister having 2 daughters and they are minor and I am having one son. My father having self earned property and he as gifted in my mother’s name. Now both my father and mother agreed to do registration of that property in my name and my younger brother is also agreed.. will this be objected by my sister in any circumstances... And also one more question... My father made a gift deed to my mother and now my mother is agreed for a gift deed to me.. is gift deed is a valid as sale deed .. what are difference between sale and gift deed... can a gift deed eligable for taking home loans.. does gift deed can be canceelled by the donor in any circumstance and what are the legal laws/Section.
Your sister no locus to object this move of your mother and father.
Your mother/father do not need any approval from anyone to transfer this property in your favour.
Yes, the gift deed is as good as sale deed and will give you absolute title. Yes, you will be eligible to raise a loan as well.
It is self acquired property of father
2) once father executed gift deed in mother name duly stamped and registered your mother is absolute owner of property
3) your sister consent is not necessary to execute gift deed in your favour
As it is self earned property of your father as well as due to gift it became self earned property of your mother now. So she can gift it to you without any objection. Your sister cannot object to this.
Gift deed is valid as much as sale deed. Only difference between both is there is consideration amount in sale deed but it is not in gift deed. Gift is made without anything in return.
Gift deed can be cancelled only through court. And donor can ask for it only if it is made fraudulently or without the will of the donor.
Dear Client,
Being self acquired property, they can dispense the property acc. their choice, no one have claim.
Yes, Mother is absolute owner through GIFT deed, so will you if she execute GIFT Deed in your favor.
Sale deed executes where consideration paid and in GIFT Deed - voluntarily and without consideration.
Loan granted on the basis of GIFT deed.
Senior citizen can revoke gift deed if donee failed to maintain them.
No your sister cannot object and neither her consent is required as self acquired property gifted to mother means sole owner is mother she can dispose same on her wish no consent from legal heir required.
Yes gift deed is valid instrument as good as sale deed same should be registered and stamped. In sale deed consideration is involved in gift no consideration it is out of love., yes loan can be taken.. It cannot be cancelled unilaterally though one exception which is common now days that your mother(if senior citizen) can file a cancellation UNDER Senior Citizen welfare and maintenance act claiming that you are not taking care of her.
1. Since the property stands in the name of your mother, the same would be the considered to be owned solely by your mother.
2. in that event your mother can transfer this property to anyone she choose and no once can raise any objection to it.
3. So if your sister raises any objection in future the same would not be considered valid under the eye of law.
4. Once the gift deed is done the same can not be canceled by our mother in future.
Dear Sir,
It can be registered in your name and your sister cannot object for it. It is exclusive property of your mother as per gift deed and gift deed cannot cancelled without the consent of the donee.
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Gift Deed – once registred no cancellation
A gift is a money or house, shares, jewellery, etc. that is received without thought, or merely an asset acquired without making a payment against it and is a capital asset for the ‘Recipient.’ It can be as cash or movable property or immovable property.
If you might want to gift the property to any of your blood relatives, Gift deed can be used. In the case of immovable property, it is required to register the Gift Deed as per Section 17 of the Registration Act, 1908.
This kind of transfer is unavoidable. When you gift the assets like land, it belongs to the beneficiary or receiver of the gift and you cannot switch the transfer or even ask money related compensation.
It can be a cost effective method of transferring the ownership.
If the Father has acquired the property on HIS OWN efforts either through employment or business, he has the right to give to any body, does not require anyone consent .
(Mothers Property) She has all the right to do anything. She can transfer to any body, to sons, or to daughters or to anybody.
After her lifetime, it shall devolve on all 3 heirs (one daughters and two sons).
you can take bank loan without any hindrance on the basis of registered gift deed.
After the gift deed has been executed it cannot be cancelled unilaterally. However, if the donor and donee are into a positive agreement to cancel the gift deed then it may be cancelled by executing a deed of cancellation
1. GIFT Deed CANNOT be cancelled /revoked under any circumstances and neither it can be objected by any other family member, provided the property is self-acquired and NOT ancestral.
2. Gift Deed is made WITHOUT any money consideration, WHEREAS Sale Deed is always with Money consideration.
3. AFTER execution of Gift Deed, the property can be legally sold /transferred /gifted /donated /mortgaged, without any reference to anybody.
Keep Smiling .... Hemant Agarwal
1. It was the self acquired property of your father which he has gifted to your mother. Consequently, your mother became the absolute owner of the property and is now free to sell or gift it to you. During the lifetime of your mother none of her heirs has any right, title or interest in the property. So your sister does not have the right to object.
2. In case of a gift deed the title in the property passes instantaneously from the donor to the donee. There can be no sale deed without consideration, but in a gift deed the consideration is love and affection.
3. On the basis of the gift deed too you can apply for home loan as the title will pass to you.
4. A gift deed can be cancelled by the Senior Citizens Tribunal if the donor approaches it for cancellation on the ground that donee is not taking care of him/her.
Sir/Madam As per my understanding sale deed gives us full authority as that I am a sole owner of the property what I bought and I can take decision what ever I want and I can write my property for whom ever I want but in gift deed will i be able to do so.. since gift deed made by parents to me will it become a ancestor property for our children.. will gift deed with registration given to me from my mother is treated as my self earned property of mine ??? Difference between WILL and Gift deed..which one is better for future?
It is not ancestral property
Property which has remained undivided for four generation is ancestral property
3) gift deed is better as title to property passes on immediately
4) in will title devolves on death of testator
Yes, you will be able to do all of the above pursuant to a gift deed as well.
Unfettered owenership rights will be paassed on to you, even through a gift deed just asn in the case of a sale deed.
It will not be ancestral property for your children but your self acquired.
Yes, even after gift deed, it will be trated as your self acquired property.
1. Your understanding is flawed. Both the sale deed and gift deed convey the title to the purchaser and donee respectively. Even gift deed gives you the authority to deal with the property in the manner you desire.
2. Will comes into operation only after the demise of the testator.
3. Property received through gift deed is at par with self acquired property.
Yes the sale deed and gift deed give you complete authority it is self earned property and can be disposed off own wish.
Will is made when you want to create right after your death and Gift deed create instant rights in the property.So it is on your wish what rights you are creating,
If this was your father's self acquired proeprty then nobody can object to this decision taken by your father or your mother.
They can transfer this property to your name by a registered gift deed during their lifetime so that your sister cannot claim any rights over it anytime after their lifetime too.
For your further question:
A gift deed is also a valid transfer of title from one person to another, hence dont be confused by imagining a different meaning on this.
Dont interpret the meaning of gift or sale deed in the manner that you can understand which is not at all legally correct.
The legal position is that the gift deed made in your favor is a proper and legally valid transfer provided that the donor has clear and marketable title to the property now being transferred to you by executing this registered gift deed.
Once the property is transferred to your name then it becomes anabsolute proeprty with clear and marketable title in your favor.
it cannot be an ancestral property to anyone at any time.
Will comes into play only after the death of the testator. Comparison between gift deed and Will: Both gift deed and Will are different as legal instruments. A 'Will' is always revocable during the lifetime of the testator, even though it is registered or not whereas, gift deed once given is irrevocable
1. Gift Deed, once executed loses all earlier status, and acquires "Self-Acquired" status at the hands of receiver and such self-acquired properties will NOT form part of any ancestral property.
2. Will contents are executable ONLY on death of person. Gift Deed is executable immediately while the person is alive. Both have got its own values and CANNOT be compared in any way, as far as Transfer of property is concerned.
Keep Smiling .... Hemant Agarwal
GIFT and SALE both gives absolute authority and transfer of ownership, no issue like ancestral.
WILL effective after death - GIFT in life time.