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Can a gift can be revoked?

Unless there is a pact between the contracting parties stating that the gift can be revoked on the occurrence of a certain event, a gift cant be revoked. Section 126 of the Property Transfer Act provides for situations wherein a gift deed may be revoked by the donor.

Can someone take back something they gave you?

This means that the recipient can use the gift in any way he or she wishes. If the recipient wants to give the gift away or donate it to charity, the law says that this is just fine. The only time someone can ask for a gift back is if the gift was given in exchange for a promise. This is known as a conditional gift.

What is a revocable gift?

A gift made through a revocable trust is like a bequest in a willthe grantor can modify or even remove the gift if circumstances change, but the gift becomes irrevocable at the grantors death.

How do you revoke a gift?

If you want to reject a gift of personal or real property, you are required to disclaim it in writing if it is being given to as a beneficiary of a will or trust. In other situations, it is probably still a good idea to disclaim it in a writing by a formal declaration.

Can a gift be revoked in India?

a gift cannot be revoked.

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