Upgrad LLM

gift deed or will


My younger brother wants to transfer some of his property in my sisters name and some in my name, as he is separating from his wife.

 

when his children who are 10 and 6 years old grow big, we can handover to them.

 

so shall he make a will or gift deed?

 

also some property are in joint name between my name, father , mother and my brother. how can he delist his name?

 
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Practicing Advocate

1. Your brother can execute a gift deed in your and your sister's favor. You both can again in turn execute a gift deed in favor of his children when you want to transfer the property to them. Will is not a proper option as it takes effect only after the death of the testator.

 

2. Your brother can execute a relinquishment deed in respect of his share in the property which is in the joint name of his, your parents and you.

 
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Hi ,

My name is Chintan .There was this flat in joint name of my mother and paternal uncle(i.e My mothers real brother).They both had equal share of 50% each in this said flat.In May 2011 share of my Paternal uncle,he gifted it to myself and my real sister.We got the Stamp Duty paid and got it Registered in the Registrars office.It was purely out of love and affection that he gifted his share to us.My mothers share is still there in it as 50% and myself and my sister has a share of 25% each.As on date my sister is staying with her in laws in this house.But now my paternal uncle wants to take back his share.We don't trust him anymore as he has started asking us the copy of the gift deed,as he wants to cancel it or revoke it.I m concerned about my sisters safety.So I want to ask you people a question that this gift deed can be changed or revoked by any means.Can you please advice me on this matter please.Do I need to take any precautionary measures.

 
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computer editer

gift deed was  revoked

 

 
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Gift once given and accepted by the donee cannot be revoked.

 
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