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Cutiepie..:)))
(Querist)
09 March 2014
query on irrevocable transfer..
is it so dat if a person(receiver) receives an asset under irrevocable transfer cannot sell d asset nor he gets d ownership of d asset?????
Nikhil Kaushik
(Expert)
10 March 2014
irrevocable transfer means that the transferor cannot recoup the control over the asset. if the asset cannot be sold by the transferee and there is a provision that asset would revert back to the original transferor, then it cannot be considered as irrevocable transfer.
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