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Can the donor have rights to revoke his decision to take back the donated property

(Querist) 17 November 2014 This query is : Resolved 
dear sir/madam,
my uncle has three daughters(no sons) and equally divided his property(a Land) and gifted to them. Now my wife(younger one) wants to buy her 2nd sisters land and her sister is also Ok for that. So my uncle suggested that we can go for a Gift registration, as he does. (we will be paying the money Offline)
So now I have the question of, if we did the gift registration, then do the donor have any rights at any moment to take back the property. so what should I do then not take back, or do we go for a sale deed instead of gift dead. What is the Exchange Deed?

Also in the feature, does 2nd sisters son/daughter has the rights to file a case on this to take back?
Thanks in advance
Nitish Banka (Expert) 17 November 2014
Section 126 of the Transfer of Property provides for conditions where a gift may be revoked.the following are those conditions-
(1) That the donor and donee must have agreed that the gift shall be suspended or revoked on the happening of a specified event;
(2) such event must be one which does not depend upon the donor's will;
(3) the donor and donee must have agreed to the condition at the time of accepting the gift; and
(4) the condition should not be illegal, or immoral and should not be repugnant to the estate created under the gift. Section 126 is controlled by sec. 10. As such, a clause in the gift deed totally prohibiting alienation is void in view of the provisions contained in sec. 10. A gift, which was not based on fraud, undue influence or misrepresentation nor was an onerous one, cannot be cancelled unilaterally.
ajay sethi (Expert) 17 November 2014
if your wife is paying her sister consideration better go in for regd sale deed
Devajyoti Barman (Expert) 17 November 2014
Once the Gift is executed and registered, the donor is divested of any right , title and interest over the gifted property and accordingly she can not later on revoke the same.
Guest (Expert) 17 November 2014
Nothing wrong in the proposed transaction, if description made of the facts is correct.
V R SHROFF (Expert) 17 November 2014
Gifted, delivered, & regd, CANNOT REVOKE
Rajendra K Goyal (Expert) 17 November 2014
Registered gift deed can not be cancelled, The proposed transaction is for consideration better go for sale deed.
Sudhir Kumar, Advocate (Expert) 18 November 2014
nothing more to add.

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