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Mahesh   14 August 2017

Gift deed

Hello,

I am an NRI and want to gift a property to my father on his retirement. My friends suggested to sign a gift deed in this way I can transfer the proeprty to him and not just add his name to it.

I would like to clarify if I sign the gift deed and complete all the formalities (registartion + stamp duty), then is it possible that my wife or my kid can claim their right on this property?

Also, is it necessary to be physically present while sigining the gift deed or any one else can do it on my behalf? If yes, then what is procedure to do it.

Please suggest.

Regards... Mahesh



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 11 Replies

manu seth (N/A)     14 August 2017

once the property is transferred by way of gift, the transferor is free from all the ownership and encumbrances as against the property in question and the transferee becomes the sole owner.

Rajdeep Majumder (Junior Lawyer)     14 August 2017

gift deed may be conditional/unconditional. in case of conditional deed the deed takes effect after death of the donor bit in case of unconditional it is immidietly takes efect. once a deed of gift made only the donor can withdraw the same in case of conditional one and once gift made right,title and interest shifted to the donee.
1 Like

SHIRISH PAWAR, 7738990900 (Advocate)     14 August 2017

Once you execute the gift deed in favour of your father, your father will be the owner and your wife and kinds cannot claim the rights over the property.

1 Like

Kumar Doab (FIN)     14 August 2017

The owner can dispose the self acquired proeprty in favor of anyone including a stranger by a valid/registered deed.......say gift deed..

The moment donor has gifted and deed is registered and donee has accepted, the gift is complete.......

If confers title with immediate effect.

 

 

Kumar Doab (FIN)     14 August 2017

Originally posted by : Mahesh
Hello,

I am an NRI and want to gift a property to my father on his retirement. My friends suggested to sign a gift deed in this way I can transfer the proeprty to him and not just add his name to it.

I would like to clarify if I sign the gift deed and complete all the formalities (registartion + stamp duty), then is it possible that my wife or my kid can claim their right on this property?

Also, is it necessary to be physically present while sigining the gift deed or any one else can do it on my behalf? If yes, then what is procedure to do it.

Please suggest.

Regards... Mahesh

'then is it possible that my wife or my kid can claim their right on this property?

Are their any specific issues?

Would you like to post such issues?

 

Kumar Doab (FIN)     14 August 2017

In case there are specific issues, prefer outright sale and prefer to appear in person. 

 

Rest is upto you.

Mahesh   15 August 2017

Yes. Matrimonial issue. Thus, need to secure my hard earned savings by way of transfering the rights to my father.

Being NRI, is it possible to do this without my presence in local registrar office. I know you have reoplied to this query, but still would like to explore on this.

If in some way it is possible to execute the gift deed without me being physically present then would like to take this option as in such way the opposite party will not be aware of such transfer.

Thanks for your reply.

Kumar Doab (FIN)     16 August 2017

Declare your status as NRI in deed say;POA that you sign.

Mention logical reason for not being present in person to sign gift deed and narration of propose of POA and that POA holder can sign gift deed and present to SRO… .

POA to be attested in Indian Consulate/Embassy in your country of residence and signed by 2 witnesses preferably while present in Indian Consulate/Embassy  and thereafter registered in India………by POA holder within 3 months of its execution ….

Mention relation with POA holder and his/her ID details ( proof…………….preferably)

Kumar Doab (FIN)     16 August 2017

Before you proceed further discuss in person with LOCAL senior counsel of unshakable repute and integrity specializing in such matters and having proven and successful track record...........

Your father can also check in person and let you know……….

 

Satisfy your self on counts before you act....

Mahesh   16 August 2017

Thank You very much. Will ask my father to consult local lawyer. Regrads...

Kumar Doab (FIN)     16 August 2017

You are welcome.

Wish you the best.

 


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