A gift deed is a legal document that describes voluntary transfer of gift from the donor (owner of property) to donee (receiver of gift) without any monetary favor in return. A gift deed for immovable property involves the gifting of some immovable property like a house. A gift deed describes every detail of the transaction as necessary by law.
It is an important document, especially while gifting immovable property since it records the act of giving a gift. It creates a valid documentary record. Both for the doner and donee, a gift deed ensures proof of such transfer and thus avoids confusions that may arise in the future.
The following points should be covered in a gift deed for an immovable property:
Details of the donor and donee (name, date of birth, residence, relationship to each other, father’s name, etc.)
Location of the property.
Details of the property.
Clause stating that the deed has been made voluntarily, without force or coercion.
Clause stating that the donor is solvent and not bankrupt.
Clause stating that the gift is being made without any consideration.
Date and place of the deed.
Signatures of the donor and the donee.
Signatures and details of 2 witnesses at the time of property transfer.
GIFT DEED (FORMAT)
_____________________, son of ________________, by faith Hindu, by Nationality Indian, by occupation – __________, residing at _______________________________________. (Donor includes successors-in-interest and assigns).
AND
__________________, son of ________________, by faith Hindu, by Nationality Indian, by occupation – __________, residing at ____________________. (Donee, includes successors-in-interest and assigns).
Now this Deed of gift witnesses as follows-
Subject matter of the gift
THE SUBJECT LAND: ALL THAT piece or parcel of land hereditaments and premises measuring _________________on ALL THAT piece or parcel of land hereditaments and premises measuring ______________ be the same a little more or less out of the total land _________________ situate and lying at and being Municipal Holding No. _________, Ward No. _____, within the limit of ________ Municipality and having Postal Address ____________.
The Structure: __________storied brick built dwelling ________(house/flat/building), having built up area of ____________ Square feet, be the same a little more or less, standing on the Subject Land (The Structure).
Other Rights: Easements and all other rights, liberties, privileges, and benefits appurtenant to the Subject Land and The Structure and all equipment, installations, fittings, fixtures, etc. in or about The Structure.
BACKGROUND:
Description of the Title: Chain of title is to be described in detail here.
Sale to Donor: By a Deed of Sale dated _______, registered in the Office of the Sub-Registrar, ________, in Book No. I, Volume No. ____, Pages __ to ___, Being No. ______ for the year __________ (Said Deed), said _______ (Name of the previous owner) sold the aforesaid plot of land measuring about __________________ more or less comprised in Dag No. ______ as aforesaid to the Donor hereto.
Ownership of the Donor: In the circumstances, the Donor hereto became the sole and absolute owner of ALL THAT piece or parcel of land measuring _______________ be the same a little more or less including the common passage situate and lying at ____________________ and comprised in _____________.
Construction by the Donor: Subsequently, the Donor constructed a _______ storied brick built dwelling (house/flat/building) on his acquired property as aforesaid in accordance with the building plan duly sanctioned by the appropriate authority.
Said Property: Thus the Donor has become the sole and absolute owner in respect of the land and the structure as referred above (Said Property). The Subject Property is the part and portion of the Said Property.
Representations and Warranties of the Donor:
Absolute Ownership: The Donor is the absolute owner of the Subject Property.
Right, Power and Authority to Sell: The Donor has good right, full power, absolute authority and indefeasible title to gift and/or alienate the Subject Property.
Free from Encumbrances: The Subject Property is free from all claims, demands, encumbrances, mortgages, charges, liens, attachments, lis pendens, uses, debutters, trusts, prohibitions, Income Tax Attachment, Financial Institution Charges and liabilities whatsoever or howsoever made or suffered by the Donor or any person claiming through the Donor and the title of the Donor to the Subject Property is free, clear and marketable.
No Prejudicial Act by the Donor: The Donor has not at any time done or executed or knowingly suffered or been party or privy to any act, deed, matter or thing whereby the Subject Property or any part thereof can or may be impeached, encumbered or affected in title.
No Personal Guarantee: The Subject Property is not affected by or subject to any personal guarantee for securing any financial accommodation.
No Bar by Court Order: There is no order of the Court or any other statutory authority prohibiting the Donor from transferring and/or alienating the Subject Property or any part thereof.
Basic Understanding: The Donee is the _________(relationship) of the Donor and the Donor bears natural love and affection for the Donee. The Donor has expressed his desire of gifting the Subject Property in favour of the Donee and the Donee has agreed to accept such gift.
Terms of Gift
Salient terms: The gift of the Subject Property being affected by this Deed is:
Gift: A gift within the meaning of the Transfer of Property Act, 1882.
Absolute: Absolute, irreversible and forever.
Free from Encumbrances: Free from all encumbrances of any and every nature whatsoever including but not limited to lis pendens, attachments, liens, charges, mortgages, trusts, debutters, reversionary rights, residuary rights, claims and statutory prohibitions.
Other Rights: Together with Easements and all other rights, liberties, privileges and benefits appurtenant to the Subject Property.
Miscellaneous
Delivery of Possession: Simultaneously with the execution of these presents khas, vacant and peaceful possession of the Subject Property is handed over by the Donor to the Donee on _____________(Possession Date).
Outgoings: All Municipal and other taxes, penalties, surcharge, outgoings, liabilities and levies on or relating to the Subject Property till the Possession Date, whether as yet demanded or not, shall be borne, paid and discharged by the Donor and thereafter that shall be borne, paid and discharged by the Donee.
Holding Possession: The Donor hereby covenant that the Donee shall and may, from time to time and at all times hereafter, peacefully and quietly enter into, hold, possess, use and enjoy the Subject Property and every part thereof and receive rents, issues and profits thereof and all other benefits, rights and properties hereby gifted or expressed or intended so to be unto and to the Donee, without any lawful eviction, hindrance, interruption, disturbance, claim or demand whatsoever from or by the Donor or any persons lawfully or equitably claiming any right or estate therein from under or in trust from the Donor.
Further Acts: The Donor hereby covenants that the Donor or any person claiming under him, shall and will from time to time and at all times hereafter, upon every request and at the cost of the Donee and/or successors-in-interest of the Donee, do and execute or cause to be done and executed all such acts, deeds and things for further or more perfectly assuring the title of the Donee to the Subject Property.
Production of Said Deed: As referred hereinbefore, the Said Deed and all other title documents in respect of the Said Property shall be lying with the custody of the Donor and unless prevented by fire or other unavoidable accidents from time to time and at all times hereinafter at like request and cost of the Donee, the Donor or his successors-in-interest will produce or cause to be produced the Said Deed and/or the said documents for reasonable requirement as may be required from time to time.
Assessment of Value for the purpose of Advalorem Stamp Duty: For the computation of stamp duty, the value of the Subject Property is assessed at Rs. _______________/- (Rupees ________) only.
Schedule above referred to
(Subject Property)
[Subject Matter of Gift]
Detail of the Subject Property with boundary description …………
The Plot is shown on the Plan annexed hereto
Execution and Delivery:
In Witness Whereof the Donor has executed and delivered this Deed of Gift on the day, month and year mentioned above.
(Donor)
I accept the Gift mentioned hereto with pleasure:
(Donee)
Witnesses:
Signature:_____________
Name:______________
Signature: _____________
Name:______________
No specific documents are required in order to draft and execute a gift deed. However, ID proofs of the parties in order to confirm the names and permanent addresses of the donor and donee should be scrutinised. Documents evidencing clear title of the property/house of the donor in question could also be examined.
A gift deed for an immovable property shall be drafted with the help of a lawyer. Gifting is a voluntary action and the gift deed should mention that the donor is gifting the immovable property in question without any coercion or force and by his/her own choice. Acceptance of the donee to receive such gift should also be mentioned in the deed - by way of donee’s signature. A gift deed of an immovable property must be registered under the Transfer of Property Act, otherwise such transfer would be rendered as invalid. Stamp duty shall also be paid as per the value of the gift.
A gift deed for an immovable property must be registered as per the rules and regulations and must also be properly stamped. The deed should also declare that the doner is not bankrupt (i.e. solvent), the gift is being made without any consideration in return and that the donor is giving the gift by his/her own choice without any force or coercion.
A minor cannot enter into a valid contract in India and hence cannot make a valid gift deed., although, a guardian can accept the gift on behalf of a minor. A gift once made cannot be revoked. It is also important to know that gifts made to relatives defined under the Income Tax Act are exempt from tax in the hands of the donee.
A gift deed is a legal document and thus hiring a documentation lawyer for the purpose of drafting and execution of it is an important step. A documentation lawyer, owing to his years of experience in handling gift deeds, can guide you through the procedure of drafting, registration and stamping of the same. He/she can ensure that all legal formalities are fulfilled while transferring your immovable property by way of gift deed and that no legal harm is done to the donor or donee during such a transaction.
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