Gift to Son & daughter-in-law.
Adv. Deepak
(Querist) 22 January 2010
This query is : Resolved
80 yrs. old man sufferring from low blood supply to brain wants to gift his self acquired 1 RK flat to his son and daughter-in-law. His wife and elder son expired. He has got one daughter. He does not want to give this flat to his daughter. He cannot move out of bed. What procedure should be adopted in effecting the gift deed executed in Maharashtra. When he purchased the property, he did not register the same. Now, is declaration that it is his self acquired property required with stamp duty on present market value? Is doctor certificate required? Can Power of Attorney be helpful? Can he make Power of Attorney in the name of his son, who is the beneficiary of the gift deed? Kindly advise. Regards. Adv.Deepak.
A V Vishal
(Expert) 23 January 2010
This is a document executed by a Donor, voluntarily transferring his rights & interests in the asset in favour of Donee. In such case donee becomes a recipient of gift.
This document also consists of name, address, age, nationality of the donor & donee, the description and value of asset being gifted, place & date of execution as required for transfer of documents. By this document transfer of rights in favour of donee are in perpetuity which in other words can be termed as absolute transfer.
The assets so transferred under Gift Deed by donor to donee can be out of love affection; or special goodwill gesture; either in favour of any relation or otherwise.
This documents attracts the stamp duty and should be registered with registrar for giving proper effect of such transfer in Govt. records.
However, since the original owner hasn't registered the property in his name, he will pass on the defective title to his son, so I would advise you to seek services of a good local advocate to overcome this problem.
adv. rajeev ( rajoo )
(Expert) 23 January 2010
when tittle is not clear how come donor will gift the property?. It requires clear tittle, at the time of regn., you will have to produce recent property extract without the property extract any types of deeds will not be regd.,
B K Raghavendra Rao
(Expert) 23 January 2010
When the father has not registered the property he purchased, he is not recognised as the owner of the property. As such, he cannot make a gift deed in respect of that property. Even if it is made by manipulation, the gift deed would be a defective instrument and does not pass on any title to the beneficiary.
Steps need to be taken to get the sale deed registered now and then gift deed could be made to put the records straight.
prakash vathore
(Expert) 23 January 2010
i do agree with vishal, in addition to that in the state of maharashtra the amenesty schem is going on for those who have not registered the document in the past, so u can go for that first then can go for gift.
