![]() If the donor and the donee mutually agree on revocation of the gift deed, then it will stand suspended. A gift deed can be suspended or revoked either by a mutual consent of the donor and the donee or by rescinding the contract between the two parties. However, Section 126 of the Transfer of Property Act, 1882, makes two provisos to the given rule. Under regular circumstances, a gift once made, cannot be revoked. The transfer of movable property on the other hand is effected either by a registered instrument signed as aforesaid or by mere delivery of the property. The transfer is said to have been effected when the registered instrument is signed by or on behalf of the donee, in the presence of two witnesses. For the transfer of immovable property, it is mandatory to register the property under Section 17 of The Registration Act, 1908. The transfer process differs for movable and immovable property. ![]() ![]() Once a gift deed is made and duly accepted, the transfer of the gift needs to be made. ![]()
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