gift deed
suraj guha thakurta
(Querist) 03 November 2009
This query is : Resolved
sir, is it possible to make a gift with a condition, i.e. the donee can't sale it in future? if not then how i can restrain the donee from sale...
A V Vishal
(Expert) 03 November 2009
Yes you can make a conditional gift to the donee. I suggest you contact a good local lawyer involved in civil matters and get the gift deed drafted as per your wishes.
A V Vishal
(Expert) 03 November 2009
REVOCABLE DEED OF GIFT
THE DEED OF GIFT Is made at ...... this ...... day of ...... between Mr. A ........... residing at ....... hereinafter referred to as 'the Donor' of the One Part and Mr. B ........... residing at ...... hereinafter referred to as the 'Donee' of the Other Part.
WHEREAS the Donor is absolutely seized and possessed of the land and building thereon situate at ...... and more particularly described in schedule hereunder written.
AND WHEREAS the Donee is the widowed daughter of the Donor and has no sufficient means for her livelihood .
AND WHEREAS the Donor therefore desires to make a gift of the said property described in the schedule hereunder written to the Donee so that she can recover income thereof for her maintenance during her life time but subject to the conditions hereinafter mentioned which are acceptable to the Donee as is evidenced by her executing these Presents.
AND WHEREAS the market value of the said property is estimated to be Rupees.
NOW THIS DEED WITNESSETH and with a view to carry out the said desire of the Donee and in consideration of natural love and affection the Donor doth hereby grant and transfer by way of gift the said piece of land more particularly described in the schedule hereunder written together with the building and structure standing thereon and all the things permanently attached thereto or standing thereof and all the rights liberties privileges, casements and advantages appurtenant thereto and all the estate, right, title and interest of Donor therein To Have and to Hold the same unto and to the use of the Donee but subject to payment of all rates , taxes. assessments, dues and duty now and hereafter chargeable thereon to the Government and the Municipal Corporation (or Council) or any local authority and also subject to the conditions hereinafter stated namely:-
1. The Donee shall have no right to sell, mortgage or otherwise dispose of the said land and premises hereby gifted.
2. The gift hereby made shall stand revoked on the remarriage of the Donee or on her death whichever event shall happen earlier and thereupon the said land and premises shall revert back to the Donor or his heirs, executors or administrators as the case may be.
IN WITNESS WHEREOF the Parties have put their respective hands the day and year first hereinabove written .
The Schedule above referred to
Signed and delivered by the
within named Donor Mr. A
in the presence of
1.
2 .
Signed by way of acceptance by the
within named Donee Mrs .......
in presence of
PS: THIS IS ONLY A FORMAT, CONSULT A LAWYER TO GET THE DRAFT FINAL BY INCORPORATING NECESSARY CHANGES IN THE FORMAT AND INCLUDE ALL YOUR CONDITIONS IN THE DEED.
Anish goyal
(Expert) 03 November 2009
in the view of section 10 of TRANSFER OF PROPERTY ACT, such a condition will be void.
Raj Kumar Makkad
(Expert) 03 November 2009
Yes. Under the provisions of section 10 of TP Act, a conditional will can be executed.
Shivasurya
(Expert) 04 November 2009
I agree with Mr. Vishal, Conditional gift deed is not void, the donar can execute gift deed with a any condition regarding the alianation of the gifted property.
Y V Vishweshwar Rao
(Expert) 04 November 2009
restriction on sale can be for a limited period .
