Can a Gift Deed Be Revoked? – Legal Perspectives, Procedures, and Time Limits
Introduction A gift deed is a legal document used to voluntarily transfer property ownership from one person (the donor) to another (the donee) without any exchange of money. This transfer embodies generosity and goodwill, often executed within families. However, situations may arise where the donor wishes to revoke the gift deed due to changing relationships or regret. This comprehensive article explores whether a gift deed can be revoked under Indian law, the conditions under which revocation is permitted, the procedures involved, and the time limits applicable. 1. Understanding the Nature of Gift Deeds Before delving into the revocation process, it’s essential to comprehend what a gift deed entails: Definition : A gift deed is a legal document through which a donor voluntarily transfers ownership of property (movable or immovable) to a donee without any exchange of money or consideration. Irrevocability : As per Section 126 of the Transfer o...