Response

“Dhana Pathiram’ is Gift Deed which is also a type of Transfer of Property and is legally valid. Ownership of the belongings is proper away transferred from Donor to Donee at the same time as as quickly because the gift deed is achieved and registered inside the Sub-Registrar’s Office via the donor and the Donee accepts the existing throughout his lifetime.

After the deed is achieved the Donee has to pay all the Statutory taxes to the Competent Authorities being the owner of the assets. Unregistered Gift Deed has no legal validity and through such a file, not anything can be achieved. After the registration of the Gift Deed your donee becomes sincerely the owner of the assets and he shall feel unfastened to do something with the assets, collectively with the sale of the assets.

that being said , if the gift deed is said to be a conditional gift deed, selling is only possible if the condition wishes to be fulfilled and completed. When as quickly because gift deed’s registration is in your donee’s favour donor will then not have any right to hold the keys of the assets. Donor has to execute registered sale deed in favour of donee and based definitely on the deed get the Patta document in donee’s name.

If the facts of the assets are not correct, you should be drafting a fresh document to avoid any problem withinside the future.

Reference: Section. 122, Transfer of Property Act, 1882 – – AHG104 – 202100580 – 52 – 47 – 20210012520210009582

LAWAYZ-2023-922