Sample Gift Deed Of Immovable Property

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A gift deed can be used when a person being a valid owner of an existing property wishes to gift his property to someone. Absolute absence of consideration the gift deed needs to mention that the donor is transferring his property by way of gift out of natural love and affection and ther is involved no monetary consideration.

Under section 122 of the transfer of property act 1882 you are empowered to transfer any of your properties to whosoever you deem fit through a gift deed.

Sample gift deed of immovable property. If it is a land or a building its addresses would be mentioned in the deed. A gift deed is a legal document that describes the voluntary transfer of gift from the donor owner of the property to the donee receiver of the gift without any exchange of money. A donor can transfer its property to another person or persons ie.

A gift deed contains the information about the property to be gifted. Download a free copy of the sample document deed of gift of immovable property. Following are the things that go into a properly drafted gift deed.

Number floor number name of the apartment etc full details of the property so as to identify shall be furnished 4 described whether the ownership is acquired by inheritance or by partition of joint family property or by release or by gift or by settlement or by will bequeath or by sale deed executed. Donee by way of gift without payment of any money or other consideration. A gift deed for an immovable property lists down every detail of the transaction that is necessary according to the law.

My grandfather purchased agricultural land survey no 791 in 1956 and executed a partition deed of agricultural land survey no 791 in the favour of my father in year 1965in the year 2010 my father wrote gift deed for same property agricultural land survey no 791in favour of my yielder brother by transferring through gift deed though it is ancesstral property owened by my grand fatherplease give me legal remedy in this case we are 3 brothers and three sisters. An immovable property can be transferred by way of a gift only by a written document known as a gift deed. Once a gift deed of an immovable property is executed in favour of any recipient the donor does not have the right to revoke or cancel the deed at a later stage unless there is a specific clause.

A gift deed is a document through which a person or persons ie. A gift is the transfer of existing movable or immovable property by a donor the person making the gift to a donee recipient and accepted by or on behalf of the donee. A gift deed is a valid document obtained after registering the transfer of a property to your beneficiary.

The gift of movable or immovable property must be in accordance with section 122 of the transfer of property act 1882. If it is an immovable property say a car its registration number colour details of accessories attached to it etc would be mentioned in the deed.