A "Deed of Gift of Immovable Property" is a legal document used to transfer ownership of real estate from one person (the donor) to another (the recipient or donee) without any monetary exchange. This type of deed is often used for estate planning, charitable contributions, or to provide property to family members.
Key Elements of a Deed of Gift of Immovable Property:
Parties Involved: The deed identifies the donor (the current owner of the property) and the donee (the person receiving the property).
Description of the Property: It includes a detailed description of the immovable property being gifted, such as its address, boundaries, and any other identifying features.
Intent to Gift: The deed clearly states that the transfer is a gift and that no payment or consideration is involved. It emphasizes the voluntary nature of the gift.
Acceptance by the Donee: The deed must confirm that the donee accepts the gift, which is a necessary component for the transfer to be valid.
Execution and Witnesses: The deed must be signed by the donor and often by the donee, and it may require the signatures of witnesses or a notary public, depending on local legal requirements.
Legal Formalities: Compliance with local laws and registration requirements is essential. In many jurisdictions, the deed must be recorded with the appropriate government authority to formalize the transfer.
The Deed of Gift of Immovable Property serves as a formal, legally binding document that ensures the donor's intent is carried out and that the transfer of property is properly documented and recognized.
DEED OF GIFT OF IMMOVABLE PROPERTY
[Alternative form]
THIS DEED OF GIFT made the ________ day of __________
BETWEEN
_________________________________________________ (insert the name of Donor, address, etc.) (hereinafter called the doner) of the ONE PART
AND
_______________________________________________ (insert the name of Donee, address, etc.) (hereinafter called the Donee)( the state relationship if any of the donor ) of the OTHER PART.
WHEREAS:
1. The donor is the owner in possession of the property fully described in the Schedule hereunder written and hereinafter referred to as ”the said property” free from encumbrances.
2. The donor is desirous of conveying the said property to the donee by way of gift.
NOW THIS DEED WITNESSETH as follows:
1. In consideration of his natural love and affection for the donee the donor hereby conveys unto the donee all that the freehold property described in the schedule hereto [and delineated on the plan annexed hereto and thereon coloured red] TO HOLD the same unto the donee absolutely and forever free from all encumbrances.
2. The donee does hereby acknowledge the gift made hereunder by the donor and signify his acceptance thereof.
3. The gift is valued at Rs.__________ for the purpose of stamp duty.
THE SCHEDULE ABOVE REFERRED TO:
[Description of property conveyed]
IN WITNESS WHEREOF etc.
[Signatures of donor and donee]
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