ISO 27001: Information Security Management
ISO 27001: Information Security Management – A Simple Guide In today’s digital world, keeping sensitive information safe is more important...
Gift Deed
A gift deed is a legal document that transfers ownership of a tangible or intangible asset from one person (the donor) to another person (the recipient) without any exchange of money or consideration. The transfer of the asset is considered a gift and is typically done for reasons such as love, affection, or goodwill.
6000+
Happy Clients
14+
Years Experience
Free Consultation by Expert
6000+
Happy Clients
14+
Years Experience
Overview of Gift Deed
A gift deed is a legal document used to transfer ownership of a property, asset or other item from one person to another as a gift. It is a voluntary and irrevocable transfer of ownership from the donor to the recipient and is usually done out of love, affection, or goodwill.
The document typically contains details of the donor, recipient, the asset being transferred, and the terms and conditions, if any. Once the gift deed is signed, the transfer of ownership is complete, and the recipient becomes the legal owner of the asset without any exchange of money or consideration. It is a simple and common way of transferring property ownership within families or between individuals, and it can have significant legal implications that should be carefully considered.
Advantages of Gift Deed
| Legal recognition | Gift deed registration for property provides legal recognition to the transfer of ownership of the property from the donor to the recipient. This ensures that the recipient’s ownership of the property is legally valid and enforceable |
| Avoidance of disputes | A registered gift deed can help avoid future disputes between family members or other parties regarding the ownership of the property. This is because a registered gift deed is legally binding, and the terms and conditions of the transfer are clearly documented |
| Tax benefits | The transfer of a property through a registered gift deed can have tax benefits for both the donor and the recipient. The donor can claim tax exemption on the gift given, while the recipient is not required to pay any tax on the gift received |
Registration Process of Gift Deed
Step 1: Consultation with Legal Suvidha
The first step is to consult with Legal Suvidha to understand the process of registering a gift deed for property. Legal Suvidha will guide you through the legal requirements and formalities involved in the registration process.
Step 2: Drafting of Gift Deed
Once you have consulted with Legal Suvidha, the next step is to draft a gift deed. Legal Suvidha will assist you in drafting a legally valid gift deed that meets all the necessary legal requirements.
Step 3: Execution of Gift Deed
After the gift deed has been drafted, it must be executed by the donor and the recipient in the presence of two witnesses. Legal Suvidha will ensure that the execution is carried out in accordance with the legal requirements.
Step 4: Stamp Duty and Registration
Once the gift deed has been executed, it must be stamped and registered with the relevant authorities. Legal Suvidha will assist you in calculating the stamp duty and will ensure that the gift deed is registered with the appropriate authorities.
Step 5: Delivery of Possession
After the registration process is complete, the donor must deliver possession of the property to the recipient. Legal Suvidha will assist you in ensuring that the possession is delivered in accordance with the terms and conditions of the gift deed.
In summary, Legal Suvidha can assist you in the entire gift deed registration process, from consultation to drafting, execution, stamp duty and registration, and delivery of possession, ensuring that the process is legally valid and hassle-free.
Documents Required of Gift Deed
1. Original title deed of the property: The original title deed of the property being gifted must be submitted for registration
2. Identity proof of donor and recipient: The donor and recipient must provide their identity proof, such as Aadhaar card, PAN card, or passport
3. Passport size photographs: Passport size photographs of both the donor and the recipient are required
4. No Objection Certificate (NOC): If the property is mortgaged or has any pending dues, a No Objection Certificate (NOC) from the concerned authorities must be obtained
5. Encumbrance Certificate: An Encumbrance Certificate (EC) that shows that the property is free from any liens or encumbrances must be obtained
6. Gift Deed: The gift deed must be drafted on a stamp paper of the requisite value and signed by the donor, the recipient, and two witnesses
7. Receipt of Payment of Stamp Duty and Registration Charges: Proof of payment of the stamp duty and registration charges must be provided
FAQ's on Gift Deed
Legalsuvidha's Office
Our Credibility:
Helped
6000+ Businesses
Experience
14+ Years
Rating
4.9 / 5 Star
Share this Service:
Free Consultation by Expert
Why Choose Us?
With a commitment to exceeding expectations and a passion for delivering results, choosing us means choosing a partner dedicated to your success.
Free Legal Advice
We provide free of cost consultation and legal advice to our clients.
Experts Team
We are a team of more than 15+ professionals with 11 years of experience.
Tech Driven Platform
All our services are online no need you to travel from your place.
Transparent pricing
There are no hidden & extra charges* other than the quote/invoice we provide.
100 % Client Satisfaction
We aim that all our customers are fully satisfied with our services.
On-Time Delivery
We value your time and we promise all our services are delivered on time.
Quick Response
We provide free of cost consultation and legal advice to our clients.
People Who loved our services!
In this Journey of the past 14+ years, we had gained the trust of many startups, businesses, and professionals in India and stand with a 4.9/5 rating in google reviews.We register business online and save time & paperwork.
Now all Professional Services in a Single Click !
- Registration/Incorporation for all companies
- Income Tax Filings
- GST Registration & Filing
- Company Annual Filings
- Trademark Registration
- Licensing
Stay Updated with Latest News!
Explore more of our blogs to have better clarity and understanding
of the latest corporate & business updates.
Essential Business Licenses for E-Commerce Startups in India
Operating an online store comes with numerous benefits—but also regulatory obligations. Securing the right licenses and permits is essential to...
Executive vs Non‑Executive Directors: Roles, Responsibilities, and Governance
Directors shape a company’s governance and strategic direction. Among board members, Executive Directors and Non‑Executive Directors (NEDs) play distinct yet...
Articles of Association (AOA): Governance Rules and Legal Implications
The Articles of Association (AOA) form the backbone of a company’s internal governance, setting out the rules, rights, and responsibilities...
LLC vs Corporation (Inc.): Choosing the Right U.S. Entity Structure
Selecting the optimal legal form is a critical decision when launching your U.S. venture. Both LLCs and Corporations offer liability...
Expanding Your U.S. Business into India: A Complete Guide
Expanding your U.S.-based business into India unlocks access to a vast consumer market, a skilled workforce, and cost advantages—but also...
Frequently Asked Question
Here are some answers to potential questions that may arise as you start your business.
Looking For More Information? Contact Us
