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Regarding gift deed of immovable property.

(Querist) 04 May 2015 This query is : Resolved 
Dear Experts,

Thanks in advance for spending your valuable time on my query.

My uncle is planning to buy me a property as a gift.

I want to know that if he pays directly to the builder on my behalf then can the sale deed be drawn in my name?

Also will my uncle have to execute a gift deed seperately? Has the gift deed to be registered before or after the purchase has been made in my name.

Thanks.

Dr J C Vashista (Expert) 04 May 2015
Yes, he can purchase in your name, there is no legal infirmity/hassle.
When the property is booked/purchased and registered in your name (irrespective of the fact who has made the payment)the title is transferred in your name and your uncle is no where in picture,he has no right, title, interest or claim over the property, hence cannot gift; rather he has already gifted the property by making payment to the builder in your name.
Rajendra K Goyal (Expert) 04 May 2015
Uncle can gift you property through registered gift deed.

Uncle may first purchase the property and can gift you later.

He can pay the money to builder on your behalf and treat the money paid as gift.
Raj Kumar Makkad (Expert) 04 May 2015
There are two aspects of the query:

1. Gift of the property prior to the registration in the name of your uncle or

2. Gift of the property after its registration in the name of your father.


In case of 1st situation, your uncle need not register the gift deed rather he can get changed the allotment in your name and can keep on paying the installments and in that event the registration shall directly be made in your favour whereas in the subsequent event, your uncle first need to get the registration of the property in his name then he need to further register gift deed in your name which shall not only be wastage of money against double registration but it may also change the mind of your uncle so opt first option.
Kumar Doab (Expert) 04 May 2015
If possible and funds are available avoid installments and let the property be bought outright on down payment................and get the best possible discounts etc.........


Obtain a written communication from uncle on gift to you for record and source of funds etc.

Understand the tax implications from your I.Tax lawyer..............on all options...
T. Kalaiselvan, Advocate Online (Expert) 05 May 2015
If the sale deed of the purchased property funded by your uncle has been registered on your name there is no need for executing a gift deed after that, you can enjoy the possession of the property as an absolute owner.


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