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Gift Deed

The lawful owner of a property can transfer it to another party without any monetary consideration through a gift deed.

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How does the Gift Deed work ?

A Gift deed offers legal protection and traces the transfer of properties between both the parties.

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What is a Gift Deed?

With a gift deed, the lawful owner of a property (donor) can transfer it to another party (done) without any monetary consideration. A gift deed must be signed by the donor, attested by 2 witnesses, and they should be registered. Charges will vary in each state as stamp duty on gift deed must be paid on the value of the property. Generally, such gifts are given by one family member to another, but there is no such restriction. However, gifts from relatives (and wedding gifts) are exempted from tax.

Gift Deed Format
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What are the documents required for gift deed registration?

The following documents are required to register a gift deed of property-

  • Signed gift deed in original
  • ID proofs (copies of passport, driving license, etc) of the donor and the donee
  • Sale deed or other documents to prove the property ownership of the donor
  • Other legal agreements/certificates to show the value of the property

How to do gift deed registration in India?

Step 1: Draft a gift deed of property by including the following details-

  • Date and place of execution of the gift deed
  • Details of the donor and the done(s) (name, date of birth, address, relationship, etc)
  • Details of the property in question
  • Signatures of doner, done(s) and two witnesses

Step 2: Print the deed on a stamp paper of the precise value, as per the State rules

Step 3: Pay the stamp duty on gift deed, as per applicable state rates, online or offline

What are the grounds of gift deed Cancellation in India?

Section 126 of the Transfer of Property Act, 1882 has specified certain grounds of gift deed cancellation in India. These are as follows-

  • If certain events specified in the gift deed occur or do not occur, without any influence or control of the donor. This ground should be mentioned in the registered deed. If it is mentioned specifically in a separate agreement, the same should form part of the gift transaction, to be legally enforceable.
  • The conditions of revocation/cancellation should not be reprehensible or illegal to the property
  • If the consent to the agreement is obtained by fraud, undue influence, misinterpretation, or coercion.

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