Gift deed
binod chouwdary
(Querist) 12 March 2012
This query is : Resolved
sirs,
among my relatives, a father who earned his property all by himself, willingly written a gift deed in favour of his eldest son after the eldest son compensated his sisters and brother according to their wishes which was decided in a family meeting.
now the eldest son is anxious what if the siblings go to the court and fight for a share in the gift deed. especially he is worried about the wife of his younger brother who is threatening to sue.
do you think it is wise to go for a bank mortagage loan so that the documents are in the custody of the bank.
your valuable opinions will be greatly appreciated.
kindly
V R SHROFF
(Expert) 12 March 2012
do you think it is wise to go for a bank mortagage loan so that the documents are in the custody of the bank.
Ans no
as no one can object it.
Raj Kumar Makkad
(Expert) 12 March 2012
A donee becomes absolute owner immediately on taking over the gift. None can object and even if any case is filed, the same shall be dismissed with cost so there is not need to create any third party interest over the property.
Advocate M.Bhadra
(Expert) 12 March 2012
According to Sec.122 of the Transfer of property Act Gift once executed can not be taken back and Court can cancel/revoke if there was any misrepresentation,fraud and coercion at the time of execution.
Deepak Nair
(Expert) 12 March 2012
You mentioned that the property was teh father's self earned. In that case the gift is valid and legal. Any objection to the said will not sustain.
Further, there is a family settlement too, by which he has compensated the other members of family. Thus, there are no reason to worry for yoru relative.
ESTHERPRIYA
(Expert) 12 March 2012
No one can dispute it if it is his own self acquired property.
binod chouwdary
(Querist) 12 March 2012
Thank you experts.
Now the younger brothers wife has gone to the family court and dragged the entire family under 498. now she is threatening that she will put a suit against that property and will pursue until she gets a sheare of it.she threatens that if she is not paid 50 lakhs immediately she will claim the share of the property for her son and daughter.
kindly give your valuable opinion
V R SHROFF
(Expert) 12 March 2012
Did she went to Family Court within this 3 hours Gap???
You do not give full details, waste the time of all experts who carefully examine your query, reply it, and after that you inform , creating another sibling here.
So Experts have to re-think on your query, and reply again!!!!!
With your full knowledge why didn't you ask this main problem ???
Do you have third Query ready by now, so let us know, so we will reply you as a package..
binod chouwdary
(Querist) 12 March 2012
Mr.Shroff Sorry about that. Believe me that was not done deliberately. I am a member of the Lawyers club. I was asking this query for my nephew.
The last information I have given is full and final. once again I apolgize. I was not holding back the information purposely. we are all shattered. I am quite an aged man. wondering what is happenning to todays marriage, even though we know that shroud has no pockets.
thanks you sir for bearing with me
Sankaranarayanan
(Expert) 12 March 2012
Almost all experts are given their valuable suggestion I do agree with them
Shonee Kapoor
(Expert) 12 March 2012
Nothing left to add.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Deepak Nair
(Expert) 14 March 2012
Now it is sufficiently answered by the experts above.
