Gift Deed


Gift Deed

A Gift Deed is a legal document that describes the voluntary transfer of gift from the donor (owner of the property) to done (receiver of gift) without any exchange of money. The donor must be solvent and should not use this tool for tax evasion and illegal gains

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Frequently Asked Questions

The donor on requisite stamp paper should sign the deed. It must be attested by at least two witnesses; the donee should accept the gift.

Gift of movable property, may or may not be registered. But the delivery of the property and acceptance of it is essential

No. When you give someone a Power of Attorney, you still have the right to control your money and property. However, you are giving your agent the ability to access your money. Your agent is not supposed to take or use your money without your permission, but there is a risk that a dishonest or unscrupulous agent might steal your money. It is therefore important to choose an agent you trust. You must go over the agent's duties before you sign your power of attorney.

A legal document that removes a previous claim or lien on an asset. A deed of release is usually issued once a mortgage or other type of debt, previously secured against the asset, has been paid in full.

Any person above the age of 18 years and mentally sound may execute Will, but a Will caused by fraud or coercion or by importunately will not be valid and can be examined by a competent civil court. Therefore, a Will must be executed voluntarily.

Parents or guardians cannot execute Will on behalf of minors or lunatic children.

A Will must be attested by minimum of two witnesses is necessary.

A Scribe (deed writer / advocate) cannot be called witness because they have signed the Will in column of drafted by. Thus, two independent attesting witnesses other than the scribe are necessary.

A Beneficiary under a Will should not sign as attesting witness. In order to avoid disputes in the implementation of a Will, a description of the property and the name of the beneficiaries should be clearly written so that there is no room for doubt.

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