Property Transfer on to Minor through Gift Deed

122. “Gift” defined

“Gift” is the transfer of certain existing moveable or immoveable property made

voluntarily and without consideration, by one person, called the donor, to another, called the

done, and accepted by or on behalf of the done.

Acceptance when to be made

Such acceptance must be made during the lifetime of the donor and while he is still

capable of giving.

If the done dies before acceptance, the gift is void.

2123. Transfer how effected

For the purpose of making a gift of immoveable property, the transfer must be

effected by a registered instrument signed by or on behalf of the donor, and attested by at

least two witnesses.

For the purpose of making a gift of moveable property, the transfer may be effected

either by a registered instrument signed as aforesaid or by delivery.

Such delivery may be made in the same way as goods sold may be delivered.

124. Gift of existing and future property

A gift comprising both existing and future property is void as to the latter.

125. Gift to several of whom one does not accept

A gift of a thing to two or more donees, of whom one does not accept it, is void as to

the interest which he would have taken had he accepted.

126. When gift may be suspended or revoked

The donor and done may agree that on the happening of any specified event which

does not depend on the will of the donor a gift shall be suspended or revoked; but a gift

which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is

void wholly or in part, as the case may be.

A gift may also be revoked in any of the cases (save want or failure of consideration)

in which, if it were a contract, it might be rescinded.

Save as aforesaid, a gift cannot be revoked.

Nothing contained in this section shall be deemed to affect the rights of transferees

for consideration without notice.

Thank you very much Mr Mohammed Ali. If you are free can we chat for few mts please?.

Mr Reddy,

Legally you can gift your property to your child, however, if you seek to alienate the property in the near future, the procedure will be cumbersome and you will need to approach the civil court for permission to alienate the same. The process for gifting is that you execute a gift deed after duly paying stamp duty and registering the same before the SRO under whose jurisdiction the property is situated. In A P the stamp duty and registration charges on gift is 3.5% on the market value of the property.

You can transfer your property in your minor child's name.  Once it is gifted then it becomes minor's property to sell it you will have to obtain the permission from the Dist., court under the guardian and wardship act.  Court wil give the permission  only the sale is go protect the interest of the minor and the sale is for the benefit of the minor.

The donee is the person who accepts the gift, by or on behalf of a person who is not competent to contract. A minor therefore may be a donee. But when he attains majority he must either accept the burden or return the gift. The gift to minor or to insane person can be accepted by their guardians’ viz. (a) Father, (b) father, (b) father's executor, (c) paternal grandfather, (d) Paternal grandfather's executor. These guardians are in the order of priority

Mr. Karl...can u provide the section number, based to your reply, to learn more about it...

https://www.lawyersclubindia.com/forum/Can-Gift-deed-be-revoked-16379.asp

Credit goes to Mr.INGLE G.

Section 127 of the Transfer of Property Act clearly recognised the competence of a minor to accept a gift.

Hi Mr.Reddy,

You can transfer your property in your minor child's name.  Once the property is gifted then it becomes minor's property, if you want to sell you  have to obtain the permission from the  court under the guardian and wardship act.  Court will give the permission  if you prove the sale is for the benefit of the minor interest.

Regards

Suresh.N.V.

Hello Sirs,

Can a Minor (through his/her guardian) donate his/her immoveable property to his/her grand mother/father. It's valid transaction?? Please help...