Gift Deed

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Gift Deed Format

 

A Gift Deed is a legal document that describes voluntary transfer of gift from donor (owner of property) to do-nee (receiver of gift) without any consideration.

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Download Gift Deed Format

How to Use

Gift Deed required for transferring the property without consideration to the recipient. Things which can be gifted should have such properties to be called as a gift –It should be movable or immovable property,It should be tangible property,It must be transferable,property should be present today and not to be a future property.

How to Create

With the help of lawyer, gift deed is drafted which describes what is being transferred,the owner and the recipient. It defines the simultaneous act of giving and taking. To make gift valid, it must be made by the person voluntarily and not by force. It is necessary by the do-nee to accept the gift from the donor in order to make the gift deed valid.Acceptance of the gift must be done during the lifetime of the donor. In case do-nee fails to accept the gift, whatever may be the reasons, it is rendered invalid.A gift of immovable property cannot pass any title unless it is registered under Section 123 of the Transfer of Property Act. Attestation by two witnesses is mandatory during registration as well as post registration .