Gift Deed Drafting, Consultant & Documentation
Gifts that include immovable property have to be registered under the Transfer of Property Act. Gift deed is a kind of document. It is made while giving a gift or gift to someone. This keeps the record of the gift-giver and the taker. Gift deed is a legal document of its kind. It is made while giving a gift or gift to someone. With this, the legal record of the person giving the gift and taking it remains. In legal language, the person giving the gift is called the donor and the recipient is called Donnie. Gifts, which include immovable property, have to be registered under the Transfer of Property Act. The title is not transferred to the recipient until the gift deed is completed. Stamp duty has to be paid based on the price of the gift. In the gift deed, the market value of the property and the circle rate will be higher, on which the stamp duty has to be paid at the rate of the state government. Minors cannot legally hold any contract. So they cannot make a valid gift deed.
The guardian of the minor can accept the gift on his/her behalf. Once the gift is given under the gift deed, it cannot be canceled. Once the gift is given under the gift deed, it cannot be canceled. Any gift deed should also clearly show that the gift deed will be legal only if the giver has given the gift and the taker has accepted the gift. Since a gift is given to someone at will. Therefore, it should be clearly mentioned in the gift deed that it has been made without any force. The donor is giving a gift of his wish in full consciousness, The gift deed should be duly registered by the concerned officer’s office after paying the stamp duty and proper drafting, and the signature of the payee and the signature of the witness.