Revocable transfer
nidhi (student) (346 Points)
21 July 2015
what does revocable transfer mean in simple words?
1 Replies
Z
( )
(2965 Points)
Replied 21 July 2015
There are 2 kinds of transfers , one is revocable and other is irrevocable
If transfer is by way which is not revocable during the lifetime of the transferee; or (beneficiary, in case of trust) then such a transfer is considered as irrevocable. In all other cases transfer shall be treated as revocable.
Also note that even if the power to revoke arisis , say by any alteration in the agreement then also transfer shall be treated as revocable.
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