Gifts

This is a common issue raised, especially between co-owners of a property (real estate). An owner wishes to transfer his share (undivided half share or a % share) in the property without any consideration to his co-owner(s) and/or third parties (eg. his wife or his mother).

Usually there are 2 scenario, namely:-

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Transaction is Voidable

For gift of immovable property within 5 years from the date of the relevant bankruptcy application in which the grantor is adjudged bankrupt, the gift is voidable at the option of the Official Assignor (OA) who may apply to the Court for the relevant orders under the Bankruptcy Act (Cap. 20) subject to the relevant provisions of […]

Yes, you may, but you have to engage a Lawyer to draft the Deed of Gift, and request for his advice on the effects and consequences of a gift of real property.