Gift Deed

WHAT IS GIFT DEED

A Gift deed is said to be a document where an individual gives out his/her property or anything valuable to the other person. The person can be anybody a friend, a family member, or even in charity if they want to give, in simple words they give to someone trusted Making a gift deed on stamp paper is a choice, If they want can get it made on stamp paper and if they don’t want they can get it made without it. This document is mainly made by those who usually live alone and have a lot to give. 

TYPES OF GIFT DEED

There are two types of Gift deeds in India, which are as follows:

• Revocable Gift Deed: It is the type, where the donor can revoke the gift deed. Until and unless the donor does not decide to give the gift deed to the donee till then the donor can revoke the deed. Once the gift is given and is delivered to the Done then the donor cannot take it back.
• Irrevocable Gift Deed: Here in this the donor cannot revoke the gift deed once offered to the donee. 

DOCUMENTS REQUIRED FOR THE GIFT DEED

• The original Gift Deed.
• Valid identification proof, such as an Aadhar Card, Driving License, or similar documents.
• PAN Cards of both the donor and the donee.
• Supporting documentation, like a sale deed or Title Deed, to verify the donor’s property ownership.
• A passport-sized photograph.
• Identification proof for the witnesses.
• Address proof for the witnesses.

LAWS GOVERNING THE GIFT DEED

The different laws which govern various aspects of Gift Deed in India are as follows:

• Transfer of Property Act, 1882
• The Indian Contract Act, 1872
• Stamp Duty Act (State specific)
• Registration Act, 1908
• Indian Succession Act, 1925
• Hindu Succession Act, 1956
• Hindu Undivided Family and Hindu Partition Act of Property, 1892
• The Muslim Personal Law (Shariat) Application Act, 1937

WHY LAWTECH

 We will get your document drafted/reviewed by Senior Expert Property lawyers. You can always track the progress of your document on our platform.

Our team of experienced business advisors are just a phone call away. Our team will ensure that your interaction with the expert lawyer is smooth and seamless, and the document draft is delivered to you within the committed timeline.

We can verify the property’s title.

We can guide you through the registration process, including calculation the registration charges and paying the required stamp duty and registration fees.

We can help you avoid potential pitfalls.