Gift Deed

What this is

A gift deed transferring property, money, shares or other assets to a family member or anyone else without payment, recording the donor's intention, the donee's acceptance, and the terms, in the form the law requires. It is for parents, spouses, relatives and others who want to transfer ownership during their lifetime. Our panel advocate drafts and reviews the deed and delivers it signed on letterhead; for immovable property, registration with two attesting witnesses is compulsory and is a separate step we explain.

What you get

A gift deed drafted, reviewed and signed by our panel advocate on letterhead, with the recitals of the donor's title, the relationship, the description of the property or asset, the voluntary transfer without consideration, the donee's acceptance, delivery or possession, any life interest or condition retained, the donor's covenants and the attestation clause for two witnesses. Delivered ready for execution, with a note on stamp duty (many states charge a concessional rate for gifts to close relatives), registration, and the income-tax treatment of gifts between relatives. Stamp duty and registration charges are not included.

How it works

1. 1Upload the papersThe donor's title document, ID and PAN of donor and donee, and proof of relationship. We pre-fill the property and the parties.
2. 2Tell us what is being gifted and to whomThe property or asset, whether the whole or a share, and any condition or life interest.
3. 3Answer the advocate's questionsWhether the donor is the sole owner, whether the donee accepts now, whether other family members are affected, whether any loan or tenancy exists, and whether the donor wants to keep the right to live there.
4. 4PayPay the fee.
5. 5Advocate drafts and signsOur panel advocate drafts the deed and signs it on letterhead.
6. 6Deed is deliveredYou receive the deed for execution before two witnesses and registration, with the stamping note.

What to have ready

• Donor's title documentSale deed, allotment, earlier gift or partition deed, or share certificate, demat or bank statement for other assets.
• ID and PAN of every partyAadhaar and PAN of each person signing; incorporation documents if an entity.
• Proof of relationship (if you have it)Birth certificate, marriage certificate, ration card or passport showing the relationship.
• Property tax receipt and society NOC (if you have it)Latest, for immovable property.
• Loan statement or no-objection from the lender (if you have it)If the property is mortgaged.
• Earlier will, settlement or gift concerning the property (if you have it)If any.
• Medical fitness certificate of the donor (if you have it)Optional, advisable for an elderly donor.

What this is based on

• Transfer of Property Act 1882 (1882)
• Registration Act 1908. (1908)
• state Stamp Act
• Hindu Succession Act 1956 (1956)
• Maintenance and Welfare of Parents and Senior Citizens Act, 2007 (2007)Source: https://www.indiacode.nic.in/handle/123456789/2078