Wondering can a gifted property be gifted again? As long as the paperwork is properly validated and registered, gift deed property can be sold or given as a gift again. To prevent future altercations, it is crucial to obtain legal counsel in advance.
Can a Property be Transferred through a Gift Deed?
A legal document known as a gift deed enables the owner of property to give ownership of their asset to a third party. Let us understand how to make a gift deed,
Drafting the Gift Deed:
Prepare the gift deed by including relevant details such as the description of the gift and the names of the donor (current owner) and donee (recipient).
Specify that the transfer is a gift without any obligation or condition attached.
Stamp Duty and Registration:
Stamp the gift deed as per the prevailing laws of the state where the property is located.
Register the deed at the office of the Sub-Registrar nearest to the gifted property.
The donor and donee must sign the deed in the presence of two witnesses.
Delivery of Possession:
Even though the donor may retain possession, legal ownership transfers to the donee upon signing the gift deed.
The deed should explicitly state that ownership has been transferre.
Execution of the Gift Deed:
Ensure that the gift deed is properly executed, signed, and witnessed.
Record the deed with the appropriate government office.
Read More:
What are Will deed and Gift deed?
Yes, after gifting, the new owner becomes the sole owner and all the rights are also transferred. So, you can give your gifted property. Therefore, the property received as a gift from the sister can be gifted further to the son. Read More:
Should I buy a gifted property?
Can parents take back their gifted property?
Get your legal woes resolved by experts at NoBroker. Fill in your details to get a seamless property investment experience.Related Questions
Most Viewed Questions
Recently Published Questions
Authors Of The Question
![profile](https://www.nobroker.in/prophub/wp-content/uploads/2024/05/generic_profile-1.jpg)
40 Total Answers
Can a gifted property be gifted again? My mother got a property from her sister through a gift deed, can she gift the same property to her son?
Hemanth Kumar SR
1474Views
1 Year
2023-01-24T10:10:05+00:00 2024-07-02T08:57:47+00:00Comment
2 Answers
Share