Gift settlement
Desiraju Venkata Sai Nath
(Querist) 19 May 2014
This query is : Resolved
Is a deed cancelling the earlier gift / settlement made in favour of a society be valid if executed by the members of the society
P. Venu
(Expert) 20 May 2014
Please come up with the complete information.
R.V.RAO
(Expert) 20 May 2014
a gift with proper recitals, duly registered, and unconditional and properly received by the donee cannot be revoked.
Advocate. Arunagiri
(Expert) 20 May 2014
Transfer of Properties Act
When gift may be suspended or revoked
126. The donor and donee may agree that on the happening of any specified event which does not depend on the will of the donor a gift shall be suspended or revoked; but a gift which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be.
A gift may also be revoked in any of the cases (save want or failure of consideration) in which, if it were a contract, it might be rescinded.
Save as aforesaid, a gift cannot be revoked.
Nothing contained in this section shall be deemed to affect the rights of transferees for consideration without notice.
This section is self explanatory.
T. Kalaiselvan, Advocate
(Expert) 20 May 2014
It is another academic query, this time with insufficient details, hence I go with stand taken by the experts on such queries.
R.V.RAO
(Expert) 20 May 2014
thanks to sri Barman ji. and
thiru sankar narayanan ji.
