This Gift Deed describes the voluntary transfer of an immovable property i.e. a house from the donor (owner) to donee (receiver of gift) without any consideration.
It is a requisite document for gifting any immovable property to your loved ones ( for instance- friends,relatives,daughter). As per law, the title in a property cannot be
delivered without a written instrument even when its value is small. Therefore, such a deed is important to obtain and execute. In a gift deed, complete ownership of
property is transferred,so it gives donee right to enjoy the property in any manner he wishes to.
A gift deed should be printed on a non-judicial stamp paper, sealed and signed by both the donor and donee. It has to be registered at the sub-registrar office and attested by at least two witnesses
within 4 months from the date of its execution.The stamp duty applicable will be as prescribed by different states. Additionally, it has to be accepted by or on behalf of the donee to make it complete,
failing which the gift will be void.
Use this agreement if
You want to gift an immovable property i.e. a house to anyone.
Someone is gifting you a house.