Baldeo Singh

GIFT = WILL = SETTLEMENT DEED = whether a document can be treated as a gift where the executor reserves his interest of maintenance throughout his life with certain other conditions or will or rather a mere settlement of its own kind.= Thus, Section 122 defines ‘gift’ as gift inter vivos or an absolute gift. An absolute gift, (which is the subject matter under the Act, 1882) or gift inter vivos as distinguished from a testamentary gift or one made in contemplation of death, is one by which the donee becomes in the lifetime of the donor, the absolute owner of the thing given. Further, in case of a gift the provision becomes operative immediately and under transfer in praesenti is intended and comes into effect.= In terms of Section 122 of the Act 1882, it is necessary that there should be vesting of interest forthwith, though possession and enjoyment of the property may be postponed to a later date. Even if a document is styled and registered as a settlement deed containing the recital of devolution of interest in the properties to vest on the death of a settler after his life time, such a document may be termed only as a ‘Will’ and not ‘gift deed’. 7. The fact that the document purports to reserve a life interest in the property to the donor with certain other terms is a ‘Will’. = “Settlement Deed” executed in 1922 is neither a `Will’ nor a gift. However, it did not transfer the title in favour of the second party therein. The executor of the said settlement deed sold the land to the respondents for consideration. The sale deed was valid and appellants could not claim any benefit under the said settlement deed, the title did not vest in favour of their predecessors in interest.

‘     IN THE SUPREMECOURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 2401 OF 2002 Sankaran Bhaskaran & Ors. …Appellants Versus Kumaran Sarasamma & Ors. … Respondents O R D E R 1. This appeal has been preferred against the impugned judgment and order dated 20.9.2001, passed by the High Court of Kerala … Continue reading →