He further said that there was no requirement of disclosure of foreign properties to Pakistan tax authorities and the properties in Orlando, Florida were mortgaged before his elevation as LHC judge and through a gift deed
dated Feb 3, 2010, those properties were gifted to his brother Mohammad Ahmad Irfan Khan.
The said properties were transferred in the name of his wife under gift deed
and the same were pledged with the banks and obtained loans.
Both the culprits have produced fake documents in the court showing that the governor had given the property as a 'gift deed
, which was prepared on 16th March 2005.
The gift deeds
will attract 5 per cent tax of the value of the property provided that if the gift deed
is executed between spouses, father, mother, son, daughter, grandparent, siblings or from one wife or widow to another wife or widow of the same husband, and the rate of stamp duty shall be three per cent of the value of the property.
Unlike in immovable property such as a house, one doesn't need a gift deed
to prove ownership.
Documents filed with authorities in Brentwood show Hawn filed a Gift Deed
application on May 21, transferring the house to Oliver and getting no money in return.
Though the house was returned to Lotika following a November 26, 2009 high court order, even that could not be taken as a finding against the Dhoundials as they had themselves decided to give back the property and the June 28, 2007 gift deed
was declared null and void with the consent of the parties.
Subsequently the plot was transferred by way of gift deed
During the inquiry it was suggested that the accused Fazal Inam Sabir gifted Fazal Arshad a total of 732 kanal shamlat land from Moza Mughal Pari through unregistered gift deed
and obtained an exparte degree from court in his favour.
The court passed its order on the basis of Lotika's earlier statement, in which she had categorically stated that " no fraud was played upon her and she had executed the said gift deed