What is gift deed of immovable property?

A gift deed of immovable property is a legal way in which a person gives property, like land, a house, an apartment, or agricultural land, to another person without asking for any money or other payment. The person who gives the property is called the donor, and the person who receives it is called the donee. Below, I have shared more details on what is gift deed of immovable property.

What Does It Mean to Gift Immovable Property through a Deed?

When a person wants to give immovable property as a gift, the law requires that the gift be written in a proper document called a gift deed. 

1. The donor transfers the property voluntarily, and the donee must accept the gift for the transfer to be complete. If the donee does not accept it, the gift is not valid.

2. The gift deed must clearly state the details of the property, the names of the donor and the donee, and that the property is given without any payment.

3. The law also requires that the donor register the gift deed with the proper government authority under the Registration Act of 1908. If the donor does not register the deed, the gift is not legally valid.

4. If a person gives immovable property to a family member, the gift may not be subject to tax. 

5. But if the donor gives the property to a non-family member, the donee may need to pay tax, depending on the property's value and how closely they are related.

So, a gift deed of immovable property allows a person to give property to someone else freely. Hope you found this helpful.

Get NoBroker’s Legal Assistance to Draft and Register Gift Deed Properly.

My father transferred his property to me through a gift deed so I know about the gift deed format for immovable property.

Let me first explain what is gift deed of immovable property

A property gift involves transferring your property ownership to another person by executing a gift deed. The gift deed is an instrument through which the movable or immovable property is transferred to another person as a gift. Here, no consideration is involved.

An immovable or immovable property, or an existing property that is transferable, can be gifted and need a gift deed. Our lawyer recommended us to register the gift deed to prevent any litigation that comes up thereafter.

Let me tell you about the gift deed format for immovable property now:

• Date and place on which the deed will be executed.

• Relevant details regarding the donee and the donor, like their names, signatures, date of birth, relationship, and address

• Every detail about the property.

• 2 witnesses to bear testimony as well as their signatures.

• Mention that there is not any force or money involved

• Specify that you’re the owner of your property when you gift

• Gives the description of the property

• Establish the relationship between the donor and the donee

• Mention liabilities

• Delivery clause

• Revocation of the gift

I think you will find these answers helpful:

I am attaching the gift deed format for immovable property for your reference.