If gift deed is given by Donor to Donee,assuming both are majors, will there be any issue/complications in future upon the rights of property by Donor after gifted and registered. In other words will Donee be able to sell the gifted property at any time and is it possible to apply for loan on gifted property without any intervention from the donor. i.e. while going for loan or selling, do we need to have signature of Donor.
On other hand, what & how many witness signatures to done, whether they need to be attested or normal.
Is family partition deed safe in future if we are going for loans or for selling purpose
1. Yes, in other words the Donee will be able to sell the gifted property at any time.
2. It possible for the donee to apply for loan on gifted property without any intervention from the donor. The donee need not to have signature of Donor.
3. Two witnesses are required to attest the Gift deed before a notary.
4. Yes, both the donees in future can legally have a family partition deed made of the gifted property.
+ Advocate Rohit Sharma.
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Hello dear client,
A gift is valid when it is registered, and is attested by 2 witnesses as well as donor, and accepted by the donee. The donor must be the absolute owner of the property, it must not be the ancestral property. It is valid for any future transaction and u can mutate ur name as the owner of the property. The gift is generally irrevocable.
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Adv. Suwarna Jadhao
Nagpur
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