FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION
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ONLINE BATCH STUDY MATERIAL-50 HRS EDUCATIONAL COURSE UNDER RULE 5(1) READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO
UNIT-5
CHAPTER-9
GIFT-MEANING IN LAWS RELATED TO REAL ESTATE
AS PER SECTION 122 TO 129 OF TRANSFER OF PROPERTY ACT, 1949
As per section 122. “Gift” defined.—“Gift” is the transfer of certain existing moveable or 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.
The person making gift –Donor
The person receiving gift – Donee
Acceptance when to be made.—Such acceptance must be made during the lifetime of the donor and while he is till capable of giving, If the donee dies before acceptance, the gift is void.
Transfer how effected.—
As per section 123. For the purpose of making a gift of immoveable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses. For the purpose of making a gift of moveable property, the transfer may be ………………………READ MORE
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