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Gift Deed

A Gift Deed is the most secure and reliable method for transferring property during your lifetime. It guarantees a clear title to the recipient (the donee) without the risk of interference from others. A Gift Deed involves the voluntary transfer of an existing moveable or immovable property from one individual to another, made without any monetary compensation.

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Why Should I Use Auriga Accounting For Gift Deed ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Gift Deed.

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Our team of experts will get in touch with you and collect all necessary documents and details

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We fill out and file your application for Gift Deed

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Your Gift Deed Is Done

Why Should I Use Auriga Accounting For Gift Deed ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your Gift Deed.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for Gift Deed

Complete your Certificate

Your Gift Deed is Done

Overview
Provisions
Participants
Properties
Registration
Documents

Overview - Gift Deed

In India, the transfer of property as gifts is regulated by the Transfer of Property Act, 1882 (“Act”). A property gift entails transferring ownership from one individual to another by creating a gift deed. This gift deed serves as a legal document through which the owner of immovable or movable property conveys their property to someone else without any consideration, essentially as a gift.

The individual who gifts the property is referred to as the donor, while the recipient of the gift is known as the donee. For the gift to be considered valid under the Act, the donor must willingly transfer the property to the donee without any expectation of compensation. Additionally, the donee must accept the gift during the lifetime of the donor for it to be legally recognized.

Provisions in a Gift Deed

Details of Donor and Donee: The gift deed must clearly state the names, addresses, and relationship between the donor and the donee.

Consideration: The deed should clarify that the donor is transferring the gift property out of love and affection for the donee, with no other form of consideration involved in the transaction.

Voluntary Transfer: It must be mentioned in the deed that the donor voluntarily and freely transfers ownership of the gift property to the donee, without any influence, coercion, or threat.

Ownership of Property: The gift deed should affirm that the property exists, the donor is the sole owner of the gift property, and that the possession of the property has been handed over to the donee.

Property Details: A detailed description of the gift property must be included in the deed.

Rights of the Donee: The deed should specify the rights of the donee, including the right to peacefully enjoy, sell, mortgage, or lease the property.

Acceptance by Donee: The deed should state that the donee accepts the gift of the property.

Delivery: The intention to deliver possession of the gift property, either explicitly or implicitly, should be articulated in the deed.

Witnesses: The deed must include the names and addresses of at least two witnesses who will sign and attest to the document.

Revocation: While a revocation clause is not necessary in the gift deed, it is advisable to include one to mitigate potential disagreements in the future.

Participants in a Gift Deed

A gift deed involves two parties: the donor and the donee. The donor is the individual who provides the gift of property, while the donee is the recipient of that property. When executing the gift, the donor must possess a sound mind and be competent to enter into agreements.

A minor cannot give property as they are not legally able to enter into contracts. However, a guardian may accept gifts made to the minor on their behalf. It is important that the donor makes the gift without expecting anything in return, meaning the donor should not receive any form of compensation from the recipient for the gift.

Properties That Can Be Transferred via a Gift Deed

Both immovable and movable properties can be gifted by the donor to the donee. Immovable property refers to land and any benefits derived from it, or anything that is permanently attached to the earth, excluding growing crops, standing timber, or grass. Properties that do not fall under the category of immovable are classified as movable properties.

The donor may only gift properties that exist at the time the gift deed is registered; they cannot gift any property they anticipate or may acquire in the future. Furthermore, the donor must be the lawful owner of the property being gifted and must possess it at the moment the gift is made.

Registration of Gift Deed

To register the gift deed, it is essential that the deed, incorporating all the specified clauses, is prepared on stamp paper. Both the donor and the donee are required to sign each page of the gift deed, and the document must also be witnessed by at least two individuals. For the gift to be considered valid, the donee must accept it while the donor is still alive and of sound mind.

According to Section 123 of the Transfer of Property Act, 1882, a gift of immovable property is considered valid when it is executed through a registered gift deed, which must be signed by both the donor and the donee and attested by two witnesses. In contrast, a gift of movable property is valid if it is made through a registered gift deed or by delivering the property directly to the donee.

The value of the stamp paper used for executing a gift deed differs from one state to another. The gift deed must be registered at the office of the Registrar or Sub-Registrar that governs the area where the property being gifted is located. In cases where the property is movable, the relevant jurisdiction is determined by the location of the donor’s residence.

Documents Required for Gift Deed Registrations

  1. Identification Proofs (e.g., Driver’s License, Passport)
  2. PAN Card
  3. Aadhar Card
  4. Documentation (e.g., Sale Deed) to validate the donor’s ownership of the property
  5. Any additional agreements related to the property that you may have entered into

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