Father can execute a conditional gift deed that during his lifetime he and his wife would be able to enjoy the rental income. of property ,and on their demise daughter would be absolute owner of property
Is it legally possible to execute a Gift Deed with a condition?
Mr. X a Senior citizen, Brahmin has decided to execute a Gift Deed of his house in favour of his daughter. He has only one daughter and she is married. He is desirous of putting a condition in the Gift Deed that he and his wife will stay in the House till their lifetime? Alternately he wants to add a condition in the Gift Deed that the daughter should pay rent to him for staying in a separate house. He would like to know whether it is legally possible to put condition in a gift deed which he would be executing in favour of his only daughter?.
Asked 3 years ago in Property Law
Religion: Muslim
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7 Answers
Dear Client,
As per the facts which have been provided, the gift deed can be conditional or unconditional.
Thank You.
He can transfer the property in favor of his daughter by executing a registered conditional settlement deed and he can make the desired conditions as recitals of the settlement deed, there is no legal embargo on it.
The old man is seeking only a right to reside in the property gifted, such right is known as life interest and in the alternative payment of rent in lieu of right to reside. He can very much register such gift reserving his right to reside in the gifted property. But any alternative condition for payment of rent will give option to daughter. Better not seek alternative right to payment of rent.
Yes it's possible but conditions should not be against the provisions of Indian Contract Act.
yes a conditional gift deed is absolutely valid
In the circumstances, it is better for Mr X to execute and register a family settlement deed, instead of a gift deed, specifying these conditions.
