Section 126 The Transfer of Property Act, 1882

 

Section 126 The Transfer of Property Act, 1882: 

When gift may be suspended or revoked.—The donor and donee may agree that on the happening of any specified event which does not depend on the will of the donor a gift shall be suspended or revoked; but a gift which the parties agree shall be revocable wholly or in part, at the mere will of the donor, is void wholly or in part, as the case may be. A gift may also be revoked in any of the cases (save want or failure of consideration) in which, if it were a contract, it might be rescinded. Save as aforesaid, a gift cannot be revoked. Nothing contained in this section shall be deemed to affect the rights of transferees for consideration without notice. Illustrations

(a) A gives a field to B, reserving to himself, with B’s assent, the right to take back the field in case B and his descendants die before A. B dies without descendants in A’s lifetime. A may take back the field.

(b) A gives a lakh of rupees to B, reserving to himself, with B’s assent, the right to take back at pleasure Rs. 10,000 out of the lakh. The gift holds goods as to Rs. 90,000, but is void as to Rs. 10,000, which continue to belong to A.



Supreme Court of India Important Judgments And Leading Case Law Related to Section 126 The Transfer of Property Act, 1882: 

Jothi Timber Mart & Others vs Corporation Of Callcut & Another on 18 July, 1969

Municipal Corporation Of Delhi vs M/S.Trigon Investment on 3 April, 1996

Sridhar vs N. Revanna on 11 February, 2020

K.Balakrishnan vs K.Kamalam. & Ors on 18 December, 2003

C.T. Senthilnathan Chettiar vs State Of Madras on 20 July, 1967

Subbegowda (Dead) By Lr vs Thimmegowda (Dead) By Lrs on 16 April, 2004

Illoth Valappil Ambunhi (D) By vs Kunhambu Karanavan on 19 September, 2019




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