Many years ago, Reuven received an apartment as a gift from Shimon, a relative of his. For over twenty years, Reuven rented the apartment and enjoyed its fruits. Everything went smoothly. However, one day, Reuven discovers a letter in his mailbox from Shimon informing him that due to his difficult financial situation, Shimon is withdrawing his gift. Reuven chuckles to himself and says, "Now he remembers? Why so suddenly!" Both parties went to court, and after a lengthy legal process, the court ruled that the property would return to Shimon...
The above situation is not necessarily fictional. However, what should Reuven have done to avoid the unpleasantness and lengthy legal process?
The solution is quite simple: finish registering the property in his name.
Let's explain: In reality, it happens that a gift is received, usually from a close person, but the recipients of the gift don't bother to register it with the Land Registry. Why? Because it's a family matter, and they don't think it's really necessary and it's not at all unpleasant to ask because the gift giver was a relative, so what? Let's start signing it now and run to the taboo?!
The answer is yes.. It is very worthwhile to make an effort and complete the transaction in the registry as quickly as possible.
We will explain: The Gift Law states that the way to acquire a gift is by delivery. However, this is not the case when there is another provision specific to the matter in question. Indeed, real estate has a special provision: The Real Estate Law states that a transaction requires registration and as long as it is not registered, it is considered ""As a commitment to make a deal""We have found that as long as the recipient of the gift has not completed the gift transaction by registering it, the status in which the giver and recipient are is "an obligation to make a transaction.".
Let's return to the Gift Law: Section 5 of the Gift Law deals with the obligation to give a gift. However, what is the law when a person has given a gift but has decided to withdraw it?
The law allows the giver to withdraw from a gift under certain conditions, such as the recipient's disgraceful behavior towards the giver or a change in the giver's financial situation for the worse. That is, even if a long time has passed since the gift was given and the recipient has not completed the registration, it is enough for the giver to have changed his financial situation for the worse to entitle him to return the apartment to his possession. The law actually allows the giver to withdraw from the gift even without a special reason as long as the recipient's situation has not changed for the worse as a result of the gift and, in addition, the giver did not waive his right to do so at the time of giving the gift.
In other words: if you received a gift and didn't take care to complete the registration, you could quite easily find yourself without the gift and with a lot of unpleasantness.
Attorney Meir Molad From the office Wolfson Weinstein & Co.', Specializes in the field Real estate law.
* The text is not a substitute for individual legal advice. Reliance on the information is the sole responsibility of the user.
Join the Haredim 10 Facebook page >>
Join the X page of Haredim 10 >>
Want more news, videos and stories? Join the Haredim 10 WhatsApp channel >>
