Don’t Assume a Gift Deed is Irrevocable: What You Need to Know!

A gift deed can be revoked in India under certain circumstances. The revocation of a gift deed is governed by the Transfer of Property Act, 1882, and the Indian Contract Act, 1872.

According to Section 126 of the Transfer of Property Act, a gift can be revoked under the following circumstances:

  1. By mutual agreement: The donor and the donee can mutually agree to cancel the gift deed.
  2. On the happening of a contingency: If the gift deed specifies a contingency upon which the gift will be revoked, and that contingency occurs, the gift can be revoked.
  3. On non-fulfilment of condition: If the gift deed is conditional, and the condition is not fulfilled, the gift can be revoked.
  4. By rescinding the contract: If the gift deed was made by fraud, coercion, misrepresentation, or undue influence, the donor can apply to a court to rescind the contract.

It is important to note that the revocation of a gift deed must be done through legal means, and a verbal or unilateral revocation is not valid in India. The revocation of a gift deed should be done through a registered document, and the donor should obtain a written acknowledgment from the donee that the gift has been revoked.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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