gift under islamic law
There is no restriction on a Muslim man to gift his property during his lifetime. A gft under Islamic law is referred as Hiba and has to be made by the donor in favor of the donee. Before 2004, Hiba registration was not compulsory, but after the amendment of 2004 of the registration Act -1908, now under section-17(1)(aa) of Registration Act 1908, ‘hiba’ under Islamic Law must be registered. Although, you can transfer the property without the registration, it is always advisable to register the Hiba as it will be much easier to prove the validity of the Hiba if it is ever challenged in the Court.
The restriction on the share which can be given away under Islamic law is with respect to testamentory disposition. This means that under Islamic law a man can given away only one-third of his propoerty in a will. Under Shiite law, Muslims can bequest one-third of their estate without consent of heirs. Under Sunni law, bequest to an heir is invalid unless consent of heirs is obtained after death of testator. The balance two-third has to be given to the heirs of the deceased at the time of his death.