![]() Registration:Ī gift of immovable property must be registered under section 123 of the Transfer of Property Act, 1882, otherwise a gift of immovable property cannot provide any title to any person. Section 126 provides that the donor and donee may agree that on the happening of any specified event which does not depend upon the will of the donor, a gift shall be revoked or suspended. ![]() The Transfer of Property Act, 1882 provides section 126 which deals with suspending or revoking a gift. Explanation of Cancellation of Gift Deed and its Procedure: It should not be a future property and it must exist today.Ĥ. It must be movable or immovable property.ģ. Gift Deed is a legal document that defines the transfer of gift from the donor to a donee without any exchange of money. The common process to transfer the property to the family members is by way of the gift deed. There are many ways to transfer property from the owner (donor) to the donee such as by gift, will or sell.
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