My mother is 72 yrs old widow . She had a flat in Kolkata which she bought it and the said flat is not an ancestral property. My mother is sole owner of the said flat. Now my mother expresses her interest to Execute a Conditional Gift Deed of the said flat in my name wherein she wants to mention the following conditions in the Gift deed that :
a. She will remain the sole owner of the said flat during her lifetime.
b. I will become the owner of the said flat from the day my mother will expire.
c. During her lifetime i have to take care of her needs and look after her health & other daily needs.
d. During her life time if i dont take care of my mother then she will have the every right to revoke or Cancell the said Conditional Gift Deed.
Now my Question is that :
i. Is it legally possible to execute Conditional Gift Deed in India ?
ii. If it is yes to ecxecute a Conditional Gift Deed then is it legally a valid document ?
iii. If my mother execute a Conditional Gift Deed in my name then what will be the procedure to get the sole of ownership of the said flat in my name after my mother`s expiry.
iv. What will the approx charges of executing a conditional gift deed. ( means what will be the rate of stamp duty & registartion charges of the present market value of the flat in Kolkata ).
v. In future when i become the sole owner of the flat after my mother`s expiry can i sell it if i wish to do so ? will there be no legal hindrance of selling a flat on basis of a conditional gift deed ?
vi. Do other legal heirs can challenge the validity of the conditional gift deed in my mothers presence during her lifetime or even after her death ?
Also my mother wishes to gift her cash money & jewelleries to me. How she will do it ? Is it possible to mention about the cash money & jewelleries she have in the Conditional Gift Deed ?
Please advice .
