Bharatkumar (ADVOCATE ) 10 May 2017

Gift deed

Dear All, My question is :- A,B and C purchase one (1) commercial property in joint name and the conveyance deed registered in sub registrar office. Thenafter A (Donor) decided to Gift this property to B and C (Donees). In registered gift deed mention that "Name of the Donnes have been jointed out of convenience and the said property have been purchased with clear understanding and agreement between the Donor and Donees that the same solely and absolutely belong to the Donor. The entire amount of consideration under the said Deed of Conveyance with the aforesaid understanding and agreement has been paid to the owner-Developer and contributed by the Donor Only. No part of the consideration or any amount on any account for or towards purchase of the said property have been paid or contributed, or agreed to be paid or contributed by the Donees or any of them. At the cost of repetition, Donees hereby agree, confirm and accept that the said property more particularly described in the schedule belong to the Donor only without they or any of them having any share, right, title, claim or interest of any nature whatsoever therein or in any part thereof". Now Donor says to Owner-Developer that you transfer this property in the name of B and C (Donees). My Question :- (1) The name transfer in Share Certificate of Service Society? (2) As per Registered Conveyance Deed Equal right of A,B and C if Only A paid all Consideration amount to the Owner-Developer? (3)

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Kumar Doab (FIN) 10 May 2017

Originally posted by : Bharatkumar
	Dear All, My question is :- A,B and C purchase one (1) commercial property in joint name and the conveyance deed registered in sub registrar office. Thenafter A (Donor) decided to Gift this property to B and C (Donees). In registered gift deed mention that "Name of the Donnes have been jointed out of convenience and the said property have been purchased with clear understanding and agreement between the Donor and Donees that the same solely and absolutely belong to the Donor. The entire amount of consideration under the said Deed of Conveyance with the aforesaid understanding and agreement has been paid to the owner-Developer and contributed by the Donor Only. No part of the consideration or any amount on any account for or towards purchase of the said property have been paid or contributed, or agreed to be paid or contributed by the Donees or any of them. At the cost of repetition, Donees hereby agree, confirm and accept that the said property more particularly described in the schedule belong to the Donor only without they or any of them having any share, right, title, claim or interest of any nature whatsoever therein or in any part thereof". Now Donor says to Owner-Developer that you transfer this property in the name of B and C (Donees). My Question :- (1) The name transfer in Share Certificate of Service Society? (2) As per Registered Conveyance Deed Equal right of A,B and C if Only A paid all Consideration amount to the Owner-Developer? (3)

The language posted in a sense is confusing.

Kumar Doab (FIN) 10 May 2017

The gift (deed) is without consideration.

If gift is accepted gift is complete.

It confers ownership with immediate effect.

The property is already in joint names.

A could have gifted his share only.

You may wait for posts from other members/experts.

Kishor Mehta (CEO) 11 May 2017

Sir, Your query is not clear. The terms, conditions and covenants of the registered sale deed are binding and any adverse statements or conditions in the gift deed to the same property will render the gift deed null and void. The donor can gift his/her legitimate share of the property. Good luck, Kishor Mehta

Bharatkumar (ADVOCATE ) 11 May 2017

Thank You Mr. Kumar and Mr. kishorji

please give your opinion

The owner-Developer registered commercial property Sale Deed to A,B and C. Thenafter A gift said property to B(his daughter) and C (his son) and Gift Deed alos registered in SRO office. If as per sale deed all are equal share then it's possibel to A registered Gift Deed in favour of B and C.

Note :- This pera mantion in Gift Deed "Name of the Donnes have been jointed out of convenience and the said property have been purchased with clear understanding and agreement between the Donor and Donees that the same solely and absolutely belong to the Donor. The entire amount of consideration under the said Deed of Conveyance with the aforesaid understanding and agreement has been paid to the owner-Developer and contributed by the Donor Only. No part of the consideration or any amount on any account for or towards purchase of the said property have been paid or contributed, or agreed to be paid or contributed by the Donees or any of them. At the cost of repetition, Donees hereby agree, confirm and accept that the said property more particularly described in the schedule belong to the Donor only without they or any of them having any share, right, title, claim or interest of any nature whatsoever therein or in any part thereof".

above pera valid for whole property gift by A (Donor) to B and C (Donees) name.