Gift Deed

The lawful owner of a property can transfer it to another party without any monetary consideration through a gift deed. All such deeds must be signed by the donor, attested by 2 witnesses and then registered. Charges will vary in each state as stamp duty must be paid on the value of the property. Generally, such gifts are given by one family member to another, but there is no such restriction. However, gifts from relatives (and wedding gifts) are exempt from tax.

When To Make A Gift Deed?

A Gift deed can be made in the following circumstances:

• At the time of transferring the rights of property as a gift.
• When there is no exchange of money involved.
• To provide a legal representation to the gift being transferred.

What Should Be Included In The Gift Deed?

• Relationship details of the donor with the donee.
• Rights & power and authority of the Donor.
• Description and details of the property to be gifted.
• Confirmation clause on delivery of possession.

This gift deed format is simple, yet all inclusive. If you are staring at gifting property to a dear one and looking for that perfect document, use our intuitive format and be ready to print the gift deed in minutes!

How To Make It Enforceable And Legally Valid?

Firstly, get the property (to be gifted) valuated by an approved valuation expert. Secondly, assess the stamp duty and other misc charges (The value of stamp duty varies from state to state). Print the gift deed, get signature of two witnesses.

Keep  handy title deeds of the property, encumbrance certificate, statement of particulars of the property at the time of registration.