Gift Deed

GIFT DEED

Giving and receiving a gift is considered as a way of expressing love and it is enjoyed by both the parties. But in order to make a gift of a property valid, the donor of the gift has to create a Gift Deed which should be duly signed by him/her and attested by 2 witnesses. In the case of immovable property, the Gift Deed has to be mandatorily registered so as to transfer the ownership to the donee.

Panomics Legal Mentors is an online legal service platform where a team of expert legal professionals from India, offering a variety of legal services relating to all kinds of deeds, contracts, Agreements, legal notices, negotiable instruments, company registrations, intellectual property, tax services, personal and property services.

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Why Choose Panomics Legal Mentors?

This organization comprises of expert legal professionals, who use their expertise will draft your Gift Deed shall cover all the legal requirements and needs of the parties. The experience and the knowledge that our professionals hold can help you in including clauses in your deed that shall effectively describe the relationship between the parties and property as well as avoid confusions or difficulties in the future.

ADVANTAGES OF GIFT DEED

LEGALLY BINDING: Once the Gift Deed is executed and accepted by the donee it becomes legally binding on both the parties.

PROOF OF TITLE: The deed acts as evidence that proves the title of the property gifted.

CONDITIONS

  • The property must an existing movable or immovable property.
  • It should be transferable.
  • It should not be a property that exists in the future.
  • It has to be tangible property.

PROCESS Of Gift Deed

1. DRAFTING: The Gift Deed has to be drafted with the help of a legal professional who knows to incorporate every valid detail. The deed must contain information pertaining to who gifts the property to whom, the description of the property, date of transfer, etc.

2. ACCEPTANCE: In case of gifting the process becomes valid only on the acceptance donee. The donee has to accept the gift during the lifetime of the donor else the gift becomes invalid.

3. REGISTRATION: According to Section 123 of Transfer of Property Act states that all deed of gift immovable property must be registered to make the transaction valid.