Section 122 of the Transfer of Property Act characterizes a gift deed is a legal document that portrays the willful transfer of gift from a donor (proprietor of the property) to the donee (beneficiary of gift) with no trade of cash.

The donor must be dissolvable and ought not to utilize this tool for tax avoidance and illicit additions.

Section 17 of the Registration Act,1908, makes it mandatory to register a gift deed with the sub-registrar.

If a gift deed isn’t registered, the transfer of property isn’t legitimate.

When a gift deed registered in the favor of the donee, just the donee has the right to apply for mutation of the property.

A thing must have the accompanying properties to qualify as a gift:

• It must be very much characterized and in the presence (can be both versatile or unfaltering).
• It must be transferable.
• It should exist in the present. It ought not to be a future property.
• It ought to be tangible.

How to register a Gift Deed?

Registration of gift deed done according to the provisions of the Registration Act, 1908.

Usual steps engaged with the registration procedure are:

An affirmed valuation expert must esteem the property in question.

The fitting stamp duty and transfer duty must be paid.

Stamp duty differs for men and women.

Stamp duty is subject to the state list and hence varies from state to state.

In the case of Minor

Since contracts with a minor stay away ab into, and a gift deed is a legal agreement, Minors are not qualified to be a donor, and this way a gift deed where the minor is the transferrer isn’t substantial according to law.

In a situation where the donee is a minor, a natural guardian has the option to acknowledge the gift for his sake.

Conditions when a gift can be revoked

Section 126 of the Transfer of Property Act provides the essential ingredients for the revocation of a gift:

The Donor and Donee must have an agreement wherein the present can be revoked on the happening or non-happening of a specific event.

The happening of this event must not depend on the donor.

The condition regarding the revocation must be made clear to the donee, and he must accept the same at the time of receiving the gift.

There must exist a ground, except want or failure of consideration, on which a contract may be rescinded.

Such a condition should not be illegal or immoral and should not have ill effects on the gift property.

Section 126 is controlled by sec. 10. As such, a clause in the gift deed completely prohibiting alienation is void given the provisions contained in Sec. 10

A bonafide gift cannot be canceled unilaterally. The court needs to be involved to revoke a bonafide gift.

If you are passing through in such a problem, then please do contact us for a better lawyer and their suggestions.