A gift deed is a legal document used to transfer ownership of property or assets from one person (the donor) to another (the donee) without any monetary exchange. Whether you’re gifting property to a family member, friend, or loved one, drafting a gift deed requires careful attention. In this blog, we’ll walk you through the process of drafting a gift deed, its essential components, and key considerations to ensure a smooth and valid transfer.
The Gift Deed for an immovable property consists of the following Information
- Place and Date of Gift Deed Registration
- Details of Donor and Donee (Name, Age, Father name or husband name, Residental address, PAN Number)
- Relationship between Donor and Donee
- Location of the property
- Details of the Property (Property Schedule)
- In case of Apartments, (Describe composite property in Schedule-A, commensurate undivided land share in Schedule-B and property that is agreed to be gifted in Schedule-C)
- Donor’s Deed registration details (Mother deed details)
- The clause states that the deed has been made voluntarily, without force or coercion.
- The clause states that Donor is the absolute owner (property is not attached to loan, GPA, and sale agreement with any other party or bank)
- The clause states that Gift Deed is being made without any consideration.
Below is the Gift Deed draft for immovable property:
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