Universal donee (Sec. 128, T. P. Act) is:
Not liable for any debt or liabilities.
Incorrect AnswerDonee is personally liable for all debts due by and liabilities existing at the time of gift.
Correct AnswerDonee is only liable for half of the liabilities.
Incorrect AnswerDonee is only liable for the one-third of liabilities.
Incorrect AnswerExplanation:
Donee is personally liable for all debts due by and liabilities existing at the time of gift.
According to section 128. Universal donee
Subject to the provisions of section 127, where a gift consists of the donor's whole property, the donee is personally liable for all the debts due by and liabilities of the donor at the time of the gift to the extent of the property comprised therein.
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By: Abhipedia