- Introduction
- A sample Gift Deed- Immovable Property- Draft-I
- A sample Gift Deed- Immovable Property- Draft-II
- Format of Gift Deed by Father to Son
- Gift Deed for an Movable Property
Introduction-
Gifts are governed by Transfer of Property Act, 1882. A gift can be given of any property -
Movable or
Immovable.
As per Sec 122, for a Gift to be valid -
- The property that is to be gifted must be in existence at the time of making the gift (for example, future expected crop produce cannot be gifted)
- The donor must be the lawful owner of the property
- Must be voluntary
- Must be without consideration
- Must be accepted by the donee
As per S. 123, if the gift is of an immovable property, the gift deed must be registered and attested.
The gift of a movable property can be effected by registration or by delivery of the property.
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A sample Gift Deed
Gift Deed for an Immovable Property- Draft-I
THIS DEED OF GIFT IS MADE BETWEEN :-
Sh.________ s/o Sh._______ r/o __________ (hereinafter referred to as "the donor")
AND
Sh._________ s/o Sh._______ d/o _________ (hereinafter referred to as "the donee")
WHERE AS
The donor is the absolute owner and is in possession of the house situated at ________ having boundary description as under:
East: West: North: South
The donor and donee are related to each other as father and daughter.
That out of natural love and affection of the donor for the donee, the donor is desirous of conveying the said property as gift to the donee.
That the donor has no other male child and has two daughters only
That the donee has been taking care of the donor in his old age.
That the donor is also living with the donee's family.
That the donor is of sound mind and is not under any intoxication, undue influence, or coercion while making this gift deed.
NOW THIS GIFT DEED WITNESSES AS FOLLOWS:
1. In consideration of the natural love and affection of the donor for the donee, the donor hereby transfers to the donee the said property, the estimated value of which is Rs._________ (Rupees_______ only) to the donee to hold the same to the donee absolutely forever.
2. The donee has accepted this Gift and has taken the physical possession of the said property.
IN WITNESS WHERE OF, the donor gets and subscribes his signature and deliver in presence of the witness.
Date: (Signature of Donor)
Place: DONOR
(Signature of Witness)
WITNESS 1:
Name and Address
(Signature of Witness)
WITNESS 2:
Name and Address
ACCEPTANCE
Accepted by the said Donee.
(Signature of Donee)
DONEE
Name and Address
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A sample Gift Deed
Gift Deed for an Immovable Property- Draft-II
KNOW ALL MEN BY THESE PRESENTS that I, _____________ S/o Sh.___________ r/o ____________________, transfers voluntarily, the property bearing no.___________ situated at _______________ (more particularly described in the schedule annexed hereto), the estimated value of which is Rs._____________ (Rupees_____________ only) to my daughter Smt.____________ w/o of Sh._________________ (hereinafter referred to as "the donee") To Hold the same to the donee absolutely forever. I further declare that the said gift has been made by me out of my natural love and affection for the donee and the same has been accepted by the donee.
IN WITNESS WHEREOF, I have executed this deed this ________ day of __________.
Witness:
1.
DONOR
2.
DONEE
I, Smt. ______________, the donee hereby accept the gift of the said property.
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Format Deed of Gift - Gift by Father to Son
nd February
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(DONOR)
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I accept the Gift mentioned hereto with pleasure:
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(DONEE)
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1. Signature: _________________________
Name:
Father’s/Husband’s
Name:
Address:
2. Signature: _________________________
Name:
Father’s/Husband’s
Name:
Address:
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A sample Gift Deed
Gift Deed for an Movable Property
I, _________________ (name of donor), S/o _________________ (father’s name), R/o_____________________ (address), do hereby on dated __________ make a gift-deedfor a gift made on dated of ___________, Rs. ______/- (Rupees in word) out of love andaffection to my ____________ (mention the relationship & name of receiver), S/o orW/o _______________, R/o_________________________.I confirm that I am a resident Indian. I, further confirm that this gift is being made out ofmy own funds standing to the credit of my A/c No.- __________ in____________(mention the Bank name & address).I, further confirm that the consideration for this gift is the love and affection for my
____________________ (mention the relationship & name of receiver) and no other consideration.
I am an Income Tax assessee having PAN/GIR # A-984 / N and assessed with Income Tax ward 1, Noida and this gift is made out of my past savings from profession in India.
I further confirm that the gift has been made by Cheque No ___________ dated _______drawn on ___________________________ (mention the Bank name & address). This gift is irrevocable and I have no claim left whatsoever on the said gifted amount and he/she is free to utilise it in any manner.
PLACE:
DATED: _______________________(Donor name)
Witness:
The gift as stated above is accepted
______________________(Name of receiver)