A Gift Deed is a legal document used to transfer ownership of property or assets from one party (the donor) to another (the donee) without any exchange of money.
Place and Date:
Place and date on which the deed is to be executed.
Information about Donor and Donee:
Relevant information about the donor
and the donee, including names, addresses, relationships, birth dates, and
signatures.
Property:
Complete details about the property to identify it, such as address, location, plot number, etc.
Liabilities:
It is also necessary to list any liabilities, including encumbrances and liens.
Delivery:
The provision outlining the transfer of the property from the donor to the donee must be included.
Revocation:
The gift deed may also specify whether or not the giver may withdraw the deed under specific conditions.
Free Wil:
It must specify that the donor is giving the property as a gift voluntarily and not as a result of fraud, coercion, or undue influence.
