Legal

Should I gift or Will my property to my children?

December 14, 2020, 9:05 PM

Shailendra Dubey | Mumbai

Representational image

Papa, do you want us go through the long legal process and subject us to property disputes after you, why don’t you transfer this flat to us now, don’t you trust us upset Jatin bangs the phone on his father. The father and son often fight on this subject and it’s a regular affair now.

Jatins father was still not sure if gifting his house to his only son is the right decision. He is worried if Jatin and his wife would continue to take care of him and give him the same respect after he gifts away his most valuable asset. Many elderly parents are caught in this age-old dilemma of gifting property during life vs passing it on through a Will.

Defining a Gift

As per Section 122 of Transfer of Property Act, 1882 Gift? is defined as the transfer of certain existing moveable and immoveable property made voluntarily and without consideration, by one person called the donor, to another, called the donee, and accepted by or on behalf of the donee. One can give away their assets to their loved ones either during life called as Gift? or after demise i.e. through testamentary termed as ?Will. While the Gift takes place immediately, the Will is operational only after death.

Revocation of a Gift

Gift can be revoked but only under certain circumstances

By Mutual Agreement -Donor and Donee may agree that the gift shall be revoked on happening of an event and only on mutual agreement and not mere at the will of donor. The condition revoking the gift must be express; it should not be merely in the form of a wish or desire. In other words, the condition on the non-fulfilment of which the donor may revoke the gift must be expressly laid down in the gift. It is necessary that the condition of revocation is made at the time of gift and not afterwards.

By Rescission as Contracts – Section 19 of the Indian Contract Act provides that ?Where consent to an agreement is caused by coercion, undue influence, fraud or misrepresentation, the agreement is a contract voidable at the option of the party whose consent was so obtained. As we know Gift is gratuitous transfer of ownership made voluntarily and if it could be proved that the transfer was not made voluntarily the Gift may be revoked by the donor.

Subsequent Conduct of donee irrelevant and Judgement by Karaikal District Tribunal

A father gifted his house in anticipation of his son staying with him, paying certain sum for living and taking care of him in old age. In case if son fails to take care of father and does not pay for his living the father solely cannot revoke the gift and take back the house. So, the subsequent conduct by donee cannot become ground for revocation of a valid gift. Having said that the recent landmark judgement may pave way for fight back to many such elderly parents who are suffering and repenting gifting their property to their children.

The case was filed by an elderly woman who complained that her son was not taking care of her and he was not even offering her basic amenities of life after she gifted him the property. The tribunal bench of Karaikal district in Tamil Nadu passed the order declaring the transfer of property to the son void and restored it to the mother under sections 4(2) and 23(1) of the Maintenance and Welfare of Parents and Senior Citizens Act. 2007.

Gifting through revocable Private Trust

The biggest dilemma of gifting asset to legatees during life is loss of control over the asset and losing power to call back the gift if need arises. A revocable private trust which gives power to recall the assets and wind up the trust as and when desired could be the perfect answer to this dilemma. The assets gifted in the private trust can be passed on to beneficiaries as per terms mentioned in the trust deed without going for any court order like probate or letter of administration. This will not only avoid the delays but will also minimize the chances of family disputes for deceaseds estate. While setting up a revocable private trust is good option to retain control on assets but one should evaluate the costs related to stamp duty on gifting assets, setting up and managing the Trust before taking any decision on this.

Politics

Never thought I’d get such warmth, love after leaving Congress, says Ghulam Nabi Azad

Published

3 hours ago

March 21, 2023

Radhika Dhawad | Srinagar

Never thought I’d get such warmth, love after leaving Congress, says Ghulam Nabi Azad…

DPAP Chief and ex-Congress leader Ghulam Nabi Azad said he never imagined he would receive such love and warmth after quitting Congress.

Ghulam Nabi Azad addressing public meeting at Banihal

Chairman of Democratic Progressive Azad Party (DPAP) and former Jammu and Kashmir Chief Minister Ghulam Nabi Azad said he never imagined he would receive such love and warmth after quitting the Congress party. Azad, on Saturday, remarked, “I had never thought that after leaving Congress, the people of Jammu and Kashmir would receive me with this kind of warmth and love.”

Azad said that after quitting the grand old party, more and more people were joining his new party; they have faith in him. He said, “It gives me more responsibilities and challenges to meet the expectations of people. People feel dejected and disappointed with the present governing system.”

Addressed a public meeting at Banihal- the place close to my heart. People especially youth seem desperate for change. My promise to you all, I will elevate Banihal as the centre of economic activities where you will not only have enough jobs but the development will speed up 1/2 pic.twitter.com/VG1fMywu4b

— Ghulam Nabi Azad (@ghulamnazad) March 21, 2023

Azad said he aimed to build a better and progressive Jammu Kashmir where the future of youth is secure. He said if his party came to power, he would bring the massive developmental revolution across the Union Territory of Jammu and Kashmir.

Azad also asserted that his politics was based on inclusiveness, development and peace. Speaking at the public meeting in Eidgah at Srinagar, Azad, said that unlike other parties who try to divide people for political benefit, he aimed to develop Jammu and Kashmir inclusively where each person irrespective of religion, caste and creed felt politically and socially empowered.

Addressed a gathering of workers at Anantnag today where DDC Chairman Anantnag Mohd Yousuf Gorsi sahib, DDC Member Adv Saleem Parray sahib, joined our party fold. I assure you all, will never let you down & will lead from the front to ensure your rights & future is safe & secure! pic.twitter.com/sqWo4nY6JA

— Ghulam Nabi Azad (@ghulamnazad) March 20, 2023

Azad concluded, “Be it statehood, land or jobs, I will lead my people from the front to secure their rights. My people are my priority. I have come back to Jammu Kashmir only for my people otherwise, I had all the opportunities I could desire ever in my life.”

Also read: Gadkari again receives death threat calls from same caller

Nagpur News

BREAKING: Gadkari again receives death threat calls from same caller

Published

9 hours ago

March 21, 2023

Radhika Dhawad | Nagpur

Nitin Gadkari

In a rather shocking incident amid the high security C20 conference in Nagpur, the Public Relations Office of Union Minister Nitin Gadkari again received two death threat calls today morning (March 21). According to the information received, once again there have been threatening calls received in the name of a criminal named Jayesh Pujari alias Jayesh Kantha.

Employees of the senior BJP leader’s office alerted Nagpur Police and security has been beefed up outside the office in Khamla and the leader’s residence on Wardha Road. However, cops are yet to ascertain whether the call was actually made by the same person who had issued death threats to Gadkari in January.

On January 14 this year, an unidentified extortionist, claiming to speak on behalf of underworld don Dawood Ibrahim, threatened to kill Gadkari in an explosion if he didn’t pay him ₹100 crore.

The caller threatened Gadkari though a phone call on the landline number of his Public Relations Office (PRO) at Khamla in Nagpur (around one kilometre away from his residence) at 11:25 am, 11:32 am, and 12:30 pm.

The employees of the office alerted the police after the threat call, where in the caller also threatened to blow up Gadkari’s office. Nagpur Police immediately beefed up the security outside Gadkari’s office and residence.

It was later revealed that a notorious gangster named Jayesh Pujari had threatened to kill Gadkari by allegedly making the three threat calls illegally using a cellphone while he was lodged in Belgaum Jail at Karnataka.

In 2016, Pujari had even escaped after breaking the jail. The gangster, in the past too, had threatened several senior officers and other people in a similar manner.

Also read: NMC spends ₹20 crore on lighting trees for C20 in Nagpur

Nagpur News

Arush Chitre wins Open Group, Shraddha Bajaj bags first spot in Girl Group

Published

10 hours ago

March 21, 2023

Nation Next Newsroom | Nagpur

Arush Chitre in Open Group and Shraddha Bajaj in Girls Group annexed the title of the Nagpur District Under-17 Open and Girls Chess Championship organised by Chess Association Nagpur on 19^th March 2023 in association with GH Raisoni Sports and Cultural Foundation and Kalpana Prakash Welfare Foundation at Vivekanand Hall at Shraddha House in Nagpur.

Arush Chitre, seeded second, improved his position to achieve the title scoring 6.5 out of 7. Ayush Ramteke also scored 6.5 points but was placed second based on their tie-break score.

In the Girls Group, second seeded Shraddha Bajaj took the top spot with 4.5 points out of 5 Rounds. Fifth seeded Swanandi Sole followed her to take second place in the merit list with 4 points out of five.

Arush Chitre and Ayush Ramteke shall represent the Nagpur District in Open Group and Shraddha Baja and Swanandi sole shall represent Nagpur District in Girls Group in the Maharashtra State Under 17 FIDE Rating Chess Championship to be held at Buldhana from 14^th April 2022 to 16^th April 2023.

Prizes were distributed at the hands of Swapnil Ahirkar Joint Secretary NCP Business Cell Maharashtra, Social worker & Director Ahirkar Group of Nagpur. Bhushsan Shriwas, Secretary, Chess Association Nagpur and Chief Arbiter Deepak Chavan were present on the dais. Top five finishers in Open and Girls Group got the trophies while medals were given to top two in under 15,13,11,09,07 category.

Deepak Chavan, Chief Arbiter successfully conducted the event assisted by SNA Sagar Sakhare, SNA Prayas Ambade and Prathamesh Machave.

Also read: RCNV holds Rotaract meet with RI Friendship Exchange Team from Mexico