In our Society one person Purchased a flat on POA in the year 2003 and after converting it to free hold Gifted the Flat by registered Gift Deed to his younger Brother in the year 2013. Now his brother Gifted the same flat to him.Is it proper and valid ? In between he purchased another Flat and sold it just before the reverse Gift Deed is done.
If in the registeredgift deed a clause is there that during the lifetime of donor and doneee the gift can be revokled by the donor or donee rejecting the gift to donor clause is there then gift will revert to donor from the donee to the donor.. Except in such occassions a vaiid gift can't be revoked under any circumstances once made.Seebelow:If you appreciate this answer please conveymy forum thanks by clciking thanks.Subject to 126 of Transfer of property Act all gifts once made cannot be revoked.
THINGS TO REMEMBER
Once a gift deed of an immovable property is executed in favour of any recipient, the donor does not have the right to revoke or cancel the deed at a later stage, unless there is a specific clause mentioned in the deed. Section 126 of the property transfer Act provides for a situation wherein a gift deed may be revoked by the donor. For instance, if the property was gifted so that the recipient can reside in it, upon death of the recipient, the property will get transferred back to the donor if she is alive, else to the heirs of the recipient. Such details, however, need to be specifically mentioned in the gift deed.If you appreciae this answer please convey my forum thanks by clicking thanks.
Revers gift is valid if both the donor and donee is alive at the time of revoking the gift. But it should contain a clause that donor can revoke the gift at any time during his life time as per section 126T.P.Act.