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Kumar Abhinav (Senior Engineer)     24 October 2010

Gift Deed for a new property

Hi,

I want to buy a flat in a residential complex.

The owner (Mrs. A) is the owner of the land and this is the first sale.

Problem is the person doing all the talks for sale is the grandson (Mr. B) of Mrs. A. The grandmother is very old and she can barely walk.

So, Mr. B wants to get gift deed from the grandmother and then go on agreement with his own name.

Plz Suggest me, is this the right thing (getting gift deed) to do?

Thanks,

Abhinav



Learning

 7 Replies

Adv Archana Deshmukh (Practicing Advocate)     24 October 2010

It is there choice what they should do. Mrs can gift the property to B and then B can sell the flat to you or Mrs. A can directly sell the flat to you.

A V Vishal (Advocate)     24 October 2010

Assure yourself that there is nothing hanky panky on the part of the transaction, if the old person cannot come to the registration office, you can request the registrar for private home visit so that he can register the property onto you from the original owner further this also eliminates the extra cost of gift deed to the vendor.

Adv Archana Deshmukh (Practicing Advocate)     24 October 2010

Read Mrs A can gift the property to B.  A is left by mistake while typing

Kumar Abhinav (Senior Engineer)     24 October 2010

Thanks for your prompt responses & suggestions.

I have read somewhere that the property has to be registered before gifting it to anybody. 

This property which is a flat should ideally not be registered as it is the first sale.

Am I right?

unique horn (self)     24 October 2010

Even the Gift to Mr B should be registered. Without registering the gift is not valid. 

Bharatkumar (ADVOCATE )     25 October 2010

I agree with Mr. Vishal.

Govardhana (Advisory Consultant)     26 October 2010

Even Mrs. A can give a GP notary to Mr.B and the GP can be registered also,

Then Mr.B can sell the land to you with the power of GP.

Thanks


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