Regarding to gift deed
Murali Krishna
(Querist) 16 December 2022
This query is : Resolved
Hi All, I am Murali Krishna, could you please clear my doubts My father wrote 1/2 of the property as gift deed to me in 2009. I got the job in AUG 2008, i cleared his personal debts around 15 lacs in 2013. Later I married with my money, In Nov 2022, again my father said I have 17 lacs debt please clear it so that I can write another 1/2 of property as gift deed. He wrote the remaining property as gift deed to me. Now I am planning to clear his debts. I have three sisters, one of the sister is not accepting and planning to go to court. what is the best option? Can I cancel both gift deeds and re-register with the sale deed? Any other option I have to stay with gift deed lands?
kavksatyanarayana
(Expert) 16 December 2022
If the property is your father's self-acquired, then he can do as he wishes and so your sisters cannot demand share in the property. If it is ancestral, then your sisters have equal rights with you.
Murali Krishna
(Querist) 17 December 2022
Hi ,
what about my father debt ? who can support this to clear it.
Advocate Bhartesh goyal
(Expert) 17 December 2022
You are legally not bound to repay the debts of your father during his lifetime and if you have paid , you can claim the same from your father if limitation to recover the same allows to you.
Dr J C Vashista
(Expert) 18 December 2022
How did you correlate your job in August 2008 with gift in the year 2009 ?
Later you have stated, inter alia, that, "......I cleared his personal debts around 15 lacs in 2013....."whose personal debt is referred herein and how it is connected with job or gift ???
Subsequently you have mentioned, that, "..... Later I married with my money....." what do you intend to convey is vague and not clear.
Re-draft and post if you are seeking obligation of experts on this platform.
Otherwise, it would be appropriate and better to consult a local prudent lawyer with relevant documents for analyses, opinion, professional advise and necessary proceeding.
P. Venu
(Expert) 18 December 2022
The gift deed is a valid conveyance if it is duly executed and registered if the property is not ancestral. Other aspects, clearing the debts etc. are irrelevant and of no consequence as to the validity of the gift deed.
Sudhir Kumar, Advocate
(Expert) 18 December 2022
Given facts indicate that your father gifted you two properties. each time as consideration for repayment of debt.
Any written agreemenjt of repayment?
Anyway, after git deed you are absolute owner of the property and objection of your sister as per given facts appears no relevance.
You getting a job is also irrelevant.
Sudhir Kumar, Advocate
(Expert) 18 December 2022
what about those loans which your father will be disclosing later?
Sudhir Kumar, Advocate
(Expert) 18 December 2022
repeated
https://www.lawyersclubindia.com/experts/regarding-to-gift-deed-valid-746206.asp
T. Kalaiselvan, Advocate
(Expert) 20 December 2022
If the property is transferred by gift deed was done for any consideration received by the donor then the gift deed is invalid.
It is settled law that a gift cannot be made in lieu of consideration. If there is consideration in the Transfer of Property by way of gift then it shall be treated as a sale under section 54 of the Transfer of Property Act.
Section 122 of Transfer of Property Act defines a gift as the transfer of an existing moveable or immovable property. Such transfers must be made voluntarily and without consideration. The transferor is known as the donor and the transferee is called the donee
In the above circumstances, if the repayment of the donor's debts as exchange of this proeprty transferred by gift deed, would render the gift deed as invalid.
Hence it is advisable that you cancel the proposal of second gift deed and can ask your father to execute a registered sale deed in your favor towards the loan amount that you have agreed to settle in due course.
Pradipta Nath
(Expert) 21 December 2022
Gift deed has to be mandatorily registered. Once it is registered, it is valid. The consideration of gift is love or affection. If you have cleared your father's debt it is quite natural that your father will be happy and give you something in return. But cancellation of gift deed or to re-register it as sale deed may have implications like compromise valuation or pre emption issues, as none can be a favoured child.
P. Venu
(Expert) 21 December 2022
Yes, to my understanding, can include the aspect that the donee has financially helped the father in the past.
Pre-emption or valuation could be of no relevance in case a gift among close relatives.
