How is gifting an immovable property different from sale or purchase of a property?

Last updated on Jun 7, 2022

A gift is a transfer of  movable or immovable property without consideration, i.e., without money. When a transfer of immovable property happens without any payment made while receiving such property, it is considered to be a gift. In such cases, the parties who give and receive property are known as Donor and Donee.  For a gift of immovable property to be valid under the law, the transfer must be:

  • Done through a registered legal instrument signed by or on behalf of the donor
  • Attested by at least two witnesses1.

Once it is signed and registered as per the due process of law, a gift deed cannot be revoked or taken back, except if the Donor and Donee agree beforehand that such revocation shall happen in certain conditions.

  1. Section 123 of the TP Act.[]

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Please share your feedback about this post!

Sharing feedback will help us improve our content. Tell us how!

If you want to keep your feedback confidential, please mention it in your feedback. If you have a question, please ask us in the comments or Ask Nyaaya sections.

Leave a Reply

Your email address will not be published. Required fields are marked *

Have a question you want to ask our legal experts?

Related Resources

Can I purchase a foreclosed property?

Foreclosed properties are generally expected to be auctioned off at rates lower than their true market values.

Who do you complain to if there has been an issue related to buying or selling property?

You can approach the court to raise disputes over land and property for various reasons including claim on ownership etc

Types of Consumer Complaints

Complaints may be filed regarding e-services, misleading advertisements, restrictive trade practices, spurious/defective goods, food etc.

What is a Residence Order under Domestic Violence law?

If you are being thrown out of your shared household (house) by your harasser, the Court can issue a residence order in such a case.
Crimes and Violence

What should I consider when I am buying a house or land?

Two aspects to consider when buying a land or house, is knowing whether price of house is fair and dispute free ownership.

Can I get a bank loan to buy a property using the same property as the collateral?

Yes. You can get a loan from the bank to purchase an immovable property by using the same property as the collateral/security.