Redact Gift Deed fast and easy

Easy instructions on the way to Redact Gift Deed

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Follow these simple steps to Redact Gift Deed employing DocHub:

Log in to your profile or register for free using your Google profile or e-mail address.
Choose a file you need to upload out of your computer or integrated cloud storage service (Box, Google Drive, or OneDrive).
Gain access to DocHub top-notch editing tools with a user-friendly interface and change Gift Deed in accordance with your needs.
Redact Gift Deed and save adjustments.
Quickly fix any errors before going forward along with your document export.
Download, export and send out or conveniently share your papers along with your colleagues and clients.
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How to Redact Gift Deed

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A user named Sired inquires about purchasing a property worth 32 lakh rupees with an 85% loan. His father intends to sell a flat valued at 1.5 crore rupees and distribute the proceeds in three equal parts. Sired plans to use his share to repay his loan. It is noted that gifting funds from a father to a son is valid and tax-free for the son. To ensure clarity regarding the substantial amount, it is advisable for Sired to create a gift deed signed by both him and his father. This document will serve as proof of the source of funds if any questions arise later about financial transactions.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Can unconditional gift deed be Cancelled?

After the gift deed has been executed it cannot be cancelled unilaterally. However, if the donor and donee are into a positive agreement to cancel the gift deed then it may be cancelled by executing a deed of cancellation.

What makes a deed of gift invalid?

If payment of consideration is made: Payment of consideration is essential to the transfer of property by a gift deed. The gift deed is void if someone can show that it was given without receiving payment of any kind.

How do you nullify a gift deed?

There are usually two ways to revoke a gift deed. Dinesh Pardasani, Partner, DSK Legal says, Revoking of gift deed can be done either via mutual consent or through cancellation of the deed via court. It is important to note that revocation of gift deed cannot be done unilaterally by the donor of the property.

When can a gift deed be challenged?

The gift deed can certainly be questioned in the court of law by filling a suit for such declaration. However, it will be challenged only if you are able to establish that the execution of the deed was not as per the wish of the donor or was executed under misrepresentation, fraud, etc.

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