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Laksh   01 February 2018

Sale through gift deed

I have been gifted a property in delhi by my mother via gift deed (on the basis of a relinquishment deed in the name of my mother).

Can i sell this property on the basis of that gift deed? Can this gift deed be used for futher registry in name of any buyer. 

I only have the gift deed and the RD of my mother as chain of documents.



Learning

 11 Replies

Kumar Doab (FIN)     01 February 2018

Gift is without consideration………..

If you want sale consideration to be paid to you, sell the property..and register the sale deed.

Harsh   01 February 2018

A gift confers title and once a gift deed is registered, it is irreversible. Yes you can sell the property and receive consideration. But bear in mind that while you did not pay tax on the gift, once you sell it, the entire sales consideration will be deemed as your income and you will be taxed accordingly.

2 Like

Kumar Doab (FIN)     02 February 2018

Visit the O/o Authority under whose jurisdiction property falls and obtain mutation records with link docs from beginning and thus you can complete the chain of title deeds…..

Laksh   07 February 2018

Thank you for your reply Kumar,

I have checked with the athority. the mutation is not there. there is only an allotment and a possesion letter from DDA in name of my father and RD in favour of my mother later on. the allotment was done 35 years back .

Will it be possible to register a sale deed or do a reistry on this chain and gift deed?

  

Kumar Doab (FIN)     07 February 2018

While posting, avoid using abbreviations/SMS/Whatsapp language and rather use full forms.

Probably DDA is Delhi Development Authority

RD is Relinquishment/Release Deed

Isn’t it!

Based on allotment letter issued by Development Authority your father has signed Relinquishment/ Release Deed

In favor of his wife (your Mother) and authority has accepted the Relinquishment/ Release Deed

and thereafter your Mother has signed Gift deed in your favor.

If authority has accepted Relinquishment/ Release Deed then further disposal should also be in order.

This seems to be OK.

1 Like

Kumar Doab (FIN)     07 February 2018

While you inquired in O/o Authority the concerned staff must have updated you further disposal by you by way of say; sale/gift deed would be acceptable.

Did you inquire?

The next person in whose favor you want to dispose may prefer to get legal opinion from his/her counsel and the counsel may opine that there is NO defect in ownership of title by you.

Have you shown all of the said docs to your own counsel?

The Lawyers/counsels/Law firms empanelled with banks also do such search and provide legl opinion for a reasonable/nominal fee. 

Has your counsel or counsel of prospective buyer raised objection?

If NO, what is your on doubt to post the query!

1 Like

Laksh   08 February 2018

Thanks for your reply,

Yes RD and DDA are relinquishment deed and Delhi Development athority. Sorry for the inconvinience

I have not contacted any buyer as of now but few builders contcated me for the property. since its an empty plot, they offered me lower price to pass on the possesion as it is without mutation being done.

however i want to know my rights, wheather i can do a further registry or construct the same through a builder buyer agreement by shelling out one floor. I am looking at options and advice as i have capital constraints and i dont want to be duped.

Thanks for your valuable advice.

 

 

Kumar Doab (FIN)     08 February 2018

Mutations:

Signifies change in title/ownership by transfer in land/revenue/land records of  authority under whose jurisdiction property falls.

In your case IT is DDA.

DDA acquired the land and launched the scheme.

Your father applied and got the said plot by allotment and allotment letter was issued and possession of said plot was given.

Your father preferred to relinquish the said plot in the name of your mother by RD (believing that RD was an accepted mode by DDA) and since IT was accepted mode of transfer by DDA, the title was transferred in your mother’s name.

Since your mother was title holder she could sign (registered) gift deed in your favor.

If IT was registered gift deed then you could submit the same to DDA for updating in records transfer the title in your name.

Has the said plot been transferred in your name by DDA?

If yes, you are tile owner.

Is your name reflected in the records of DDA?

If not, then why you have not got IT done?

If not, get IT done.

If you have got IT done then what is left for the said purpose of mutations and what is your doubt?

If you have not got IT done then is IT due to nonpayment of some charges say;Non Construction charges? If yes, DDA may have provisions to recover the charges, levy penalties and/or even resume per procedure…. Check with DDA.

Kumar Doab (FIN)     08 February 2018

 

If due procedure is followed by you and you are owner of tit in records of DDA then why should anyone mislead you or you get mislead by anyone and settle for low price compared to marker price?

You need to post clear facts and details!

 

Builder Buyer Agreement;

What kind of builder buyer agreement is thought of by you?

IT may not be necessary to transfer the ownership, possession for an agreement!

It might be possible to have an agreement to build on plot and get one floor from owner of the plot.

If you are owner of clear title you should be to sell or enter into an agreement.

Kumar Doab (FIN)     08 February 2018

Gift Deed:

It is one of the modes of transferring the ownership/title.

Gift is complete the moment gift is made by donor and accepted by donee.

Gift of immovable property should be registered.

Registered gift deed confers immediate ownership.

If the donee has accepted the gift and has taken possession also then what is left, in the transaction?

Gift is without consideration.

Gift to anyone outside def. of ‘Relatives’ may not get any concession/rebate/waiver in duty/charges.

If consideration is involved then IT should be by Sale Deed.

In case of sale deed also gains are involved and hence required taxes may be calculated.

Outrights sale is better option than gift since NO (trustworthy) relative is involved and you are apprehensive that you may be duped.

You may post full facts of clear title being in your favor as already posted above.

Kumar Doab (FIN)     08 February 2018

If you are apprehensive of getting duped then you may also avoid posers and imposors that loiter, stalk at online portals to allure unsuspecting querists and fleece and pose as some Chief Lawyer ( might be actually LIAR) and advertise unknown firms as Law Firms ( might be actually LIAR's firm) and many of such entities be pasting pictures of very aged and sick indivisuals..


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