My mother is 82 years old with sound mind and ready to do anything to return the gift back to me as it is my self acquired property gifted to parents and I am homeless. I want to buy from my mother her share of ownership rights in the property at fair price and then revoke my father's right on it through a Court Order subsequently as he is yet to accept the gift and is not traceable. Can these be done and if yes under which Act or Rule in Kerala?
Your father's share shall devolve on his legal heirs, if he is declared civil dead.
The gift deed insofar as his share is concerned cannot be revoked, your mother can execute a registered settlement deed in your favor insofar as her share in the property is concerned. For identifying her share in the property, in the absence of your father who is a cosharer, she may have to file a partition suit, get and exparte order, get her share identified through court, and then her share can be transferred to your name, no doubt this process may consume a little time, but if you wait to set right things properly and in a legally valid manner, you may not have mush better option.