Register Your Gift Deed With Vakilsearch!

Gift Deed - an Overview

A gift deed allows the legal owner of a property (donor) to transfer it to another person (done) without having to pay any money. A gift deed must be signed by the donor and witnessed by two people before being registered. Stamp duty on gift deeds must be paid on the value of the property, therefore charges will vary by state. 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.

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.

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 donee(s) (name, date of birth, address, relationship, etc)
• Details of the property in question
• Signatures of donor, donee(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.

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.

Why Vakilsearch?

It is now easy to register a gift deed with Vakilsearch:

• Vakilsearch will help you with the gift deed registration.
• We will provide you with the best experience.
• We are always ready to help you with client-centered, trustworthy, and ethical service standards.