My spouse had filed a complaint against me in CAW Cell. Matter was settled in Mediation Center vide a MoU. First Motion has already been filed for. Now, as per MoU, i have to transfer my 50% share in a joint property in her name through Gift Deed / Sale Deed / Release Deed or any other document.
My preference is a Sale Deed, but I have some queries:-
a. Can "Divorce by Mutual Consent" be mentioned as a consideration in Sale Deed?
b. Can the Sale Deed be made conditional vide some recitals? i.e. Sale of 50% share would become valid only after Divorce Decree is granted by the Family Court.
c. Can I restrict the other party from delineating with the property in any manner whatsoever till the Divorce Decree is granted? i.e. no further sale / gift etc. be allowed till Divorce.
d. Also, can there be any other consideration except "Love & Affection" in a Gift Deed?
Thanks and Regards
Asked 4 years ago in Property Law from Delh, Delhi
a. 'Divorce' can not be termed as consideration for a sale deed,
b. It can not be a sale deed at all. It could be a Gift Deed or Settlement Deed,
c. You can execute a conditional gift deed where MCD will be the condition for the Gift & she will own the property only after your receiving the decree of divorce,
d. There can be no consideration show for gift deed. Only love & affection should be the reason/base for affecting the gift.
No, is the answer for all your queries.
1) divorce by mutual consent cannot be shown as consideration in sale deed .
2) sale deed cannot be conditional that it would be valid after divorce is granted ,.
3) execute conditional gift deed
4) no consideration can be shown in gift deed . gift is on account of love and affection