Conditional gift deed

Retail Manager

My mother is having a 2 BHK Flat ( 890 sq ft super built up area, 660 sq ft built up area ). The flat she have purchased on her own earning money and she have not inherited it. Now my Mother wants to execute a gift deed of the said flat in my name. But she wants to impose a condition on he gift deed that i will become the sole owner of the flat only after the demise of my mother. Till her lifetime she will remain the owner of that said flat as now she is.

Can she execute a CONDITIONAL GIFT DEED ? Is it legally valid & possible to execute a Gift Deed.   As far my knowledge is concerned when an Unconditional Gift Deed is executed the Donee becomes the owner of the said gift immediately and in the lifetime of the owner. So kindly clear me whether it is legally possible to execute a  Conditional Gift Deed or not ? How will i get the flat mutated in my name if a conditional Gift deed is executed. 

 

Kindly advice 

 
Reply   
 
FIN

A gift may be conditional subject to provisions of:Sec,26 in

You may go thru:

TRANSFER OF PROPERTY ACT,1882

Sec;25,26,29,32,123

http://dolr.nic.in/Acts&Rules%5CTransferOfPropertyAct(1882).htm

http://bombayhighcourt.nic.in/libweb/oldlegislation/1882.04.pdf

 
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p

@ Queriest 

Your mother want to make you owner of immovable property after her death , Property is self earned by your mother.  

Few  things which arose in my mind , whether your mother has more children apart from you (Your siblings) etc. ?

Second thing When person dies (Here women) it will go to her legal heirs as specified in Hindu Succession Act (Presuming you to be Hindu) , if you are only legal heir it will pass automatically to you and you will become owner

Third if there are more legal heir apart from you then it will be divided according to law of succession

Fourth -- If your mother want to transfer ownership to only you (Excluding other siblings or legal heir) then she has to make some deed , General Document which is made and registered is Will , This is correct type of document .

But generally if will is made then better all legal heir of mother sign as witness so there is no dispute in future (This is just suggestion) apart from two independent witness .

 

 

 

 
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p

Difference between Will And Gift Deed actually is vast from point of view of taxation. 

I have not checked your state Stamp duty or registration fee but it is applicable , Will don't attract stamp duty , although nominal few hundred registration fee may be charged. 

 

 
Reply   
 
FIN

It is not mandatory to register the WILL.

However WILL may be registered preferably.

A registered WILL may not be set aside easily at least on the counts of authenticity.

Any WILL can be contested.

If contested WILL lands up in probate court of pecuniary jurisdiction.

In presidential towns it is mandatory to probate the WILL.

You may inquire locally the charges to be incurred for probate (if such situation arises).

 
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FIN

A gift deed can also be challenged.

Court alone can revoke the gift deed, if satisfied, on gounds presented before the court.

If rest of the legal heirs agree to be witness(es), you have option to opt for it.

 
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p

To obtain Probate Court  fee is high , depends upon valuation of Immovable property.

As some one said rightly "Death and taxation no one can avoid , it comes this way or that way "

 

 
Reply   
 
FIN

In condition similar to described by you in your query there are decisions that laid Gift is valid, as conditions mentioned in gift were fulfilled.

However if matter lands up in court of law then it is prerogative of the court of decide.

Your own counsel at your own location can help you to draft both Gift, WILL so as to defend the interest in the long run.

 

 
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