Gift DeedA Gift Deed is a legal document that describes the voluntary transfer of gift from a donor (owner of property) to a donee (receiver of gift) without any exchange of money.
Though it is not compulsory to execute a gift deed while gifting any asset, they are useful for making the gift-giver’s intentions clear to those who believe they have a claim to the property at hand. It acts as evidence of the transfer, potentially reducing the number of misunderstandings as to who owns the property. A gift includes any tangible property that can be transferred.
Use this Gift Deed if:
You want to create a valid and documented record of the movement of goods or property.
You wish to legally transfer ownership from one party to another.
What does this Gift Deed Cover?
Records the gift of goods or property
Follows terms and conditions such as ensuring the property has no existing claims
Description of goods or property being transferred
Transfers ownership and responsibility of the property