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Gift Deed- Immovable Property

{For purpose of gift of immovable property from one person to another}

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As a common practice, the owner of an immovable property can gift the property out of love and affection or for any reason whatever, to any other person. In other words whenever the owner of property decides to transfer his/ her property without consideration, a gift deed is required. It is a legally binding agreement between two parties. A Gift Deed needs to be signed by the Donor, attested by atleast two witnesses and should be registered. The amount of stamp duty payable on registration will depend upon the rates prevailing in respective state. A person must be competent to contract to make a gift of his/ her property.

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Essentials of a Gift Deed

  • gift of property either movable or immovable
  • property to be gifted must be tangible
  • property must be present one and not future property
  • property must be transferable and owned by donor
  • executed by the person out of free consent
  • no consideration involved
  • donor must be above 18 years of age and of sound mind
  • gift must be accepted during life time of donor
  • deed must be registered
  • deed should be attested by two witnesses

Note :-

  • Draft template will be provided in soft copy
  • Extra charges will apply for customized document