Response

Section 122 of the Transfer of Property Act defines ‘gift’ as the transfer of certain existing moveable and immoveable property made voluntarily, without any consideration, by a donor to a donee.

There, however, are certain essentials of a gift Ð the gift, for example, must be tangible, and its ownership should be transferred by the donor and accepted by the done.

You and spouse can take divorce as per the terms and conditions stated in mediation report. And regarding the gifting of leasehold property, only the actual owner of the property has the right to gift the property to another person.

However, you can allow someone to stay in your residence, informing your landlord, rentfree. But gifting a leasehold property altogether is not possible, as only the absolute owner can do so.

In case you still proceed to do so, the gift can be revoked as it is not legally enforceable. But, in case your son gets the property and once he becomes a major, he can transfer the lease to you, but not in the form of gift, as transfer of leasehold property is permissible in law as lease is transferable. But this should not be against any of the terms and conditions which was agreed in the divorce.

Reference: Section 122 of the Transfer of Property Act

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