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Regardless of age or gender, a gift assuredly manages to light up a person’s face with a 70mm smile. We, at LegalDesk, value and cherish this childlike exhibition of emotions and understand how your loved ones mean the world to you. Further, to keep all your drafting related worries at bay, we have prepared a gift deed template for you, which can be customised to suit your needs.

There are multitude of ways for transferring your property to someone, but transferring of property by way of a gift deed remains the most common and prevalent method. In general parlance, gift means something given to someone out of love and affection without any form of monetary consideration. By way of a gift deed, a movable or immovable property can be transferred from the donor to the donee, provided such transfer happens with the donor’s free volition and is devoid of any consideration in terms of money.

Gift Explained

The provisions of the Transfer of Property Act of 1882 define Gift under section 122 as a transfer of any existing property, whether movable or immovable, devoid of any consideration from one person to another and which is accepted by that other. Here, the person transferring the property is referred to as the ‘Donor’ and the person to whom such transfer of property is being done is referred to as the ‘Donee’.

What Constitutes A Valid Gift?

There are certain essential pre-requisites that need to be abided by, before you proceed with gifting, which are as under :

• The transfer of property by means of a gift should be gratuitous and voluntary, i.e done with free will. There should be absolutely no signs of coercion or undue influence whatsoever.
• The only consideration that should be involved is natural love and affection. There shouldn’t be any form of monetary consideration.
• The gift must be of a tangible property.
• The donee should accept the gift in the lifetime of the donor and while he is still in a capacity to give. Death of the donee before such acceptance shall render the gift void.
• The gift should be accepted by the donee after its execution, even if the instrument hasn’t been registered
• There should be a delivery of possession. Delivery of possession is one of the important aspects of gift.
• The property so transferred by way of a gift deed needs to be an existing property. A gift comprising of a future property is void.
• Only people who are capable of entering into a contract can make a transfer by way of a gift deed. Gift made by a minor is not valid in the eyes of law. Nevertheless, a guardian can accept gifts on behalf of a minor.

How Is The Transfer Made?

All gifts of immovable property need to be mandatorily registered. According to the provisions of Section 17 of the Registration Act of 1908, it is imperative to get your gift deed for the transfer of an immovable property registered with the Sub-registrar.

Failure to register a gift deed will render the transfer invalid and it will also not be admissible in evidence. A gift for transfer of immovable property needs to be registered within four months from the date the gift deed was executed. The document shall come into operation from the date of execution and not the date of registration.

The gift deed also needs to be attested by at least 2 witnesses, in whose presence the donor had put his signature on the document.

A gift of movable may be transferred either by a registered instrument or by delivery made in the same manner as goods that are sold are delivered. Gift of  movable property can be registered at the sole discretion of the donor.

It is also mandatory to note that the gift deed needs to be registered in name of the donee for him/her to apply for mutation of the property. Mutation is important for transferring utilities in the name of the donee.

Registration of Gift Deed

Any gift of immovable property can’t divest any title in the donee unless and until the gift is duly registered. A gift deed needs to be registered in a manner prescribed by the Registration Act of 1908. The gift property is evaluated by an approved valuer for the purposes of registration.

Stamp duty and registration charges are to be paid for the registration of a gift deed. Stamp duty and registration charges vary from state to state and from men to women, with some State Governments granting certain leverages in case of transfer of immovable property between blood relations. Fee Payable on Gift Deed in Telangana is enumerated as follows :

LegalDesk – One Solution For All Your Legal Needs

After reading this, if you are reminded of how you have always wanted to gift your loved ones something that they would hold dear to their hearts the rest of their lives but never could manage to fearing legal conundrums and drafting related miseries, then you have come to the right place. Use our ready to use, legally valid template of Gift Deed, fill in the necessary details and have us print it on Stamp paper and deliver to your location of choice. So what are you thinking? Do the kind deed and gift a smile to someone special. While you are on our website, please don’t forget to go through the list of legal documents and deeds that we have in store for you.