Format for gift deed, stamp duty for gift deed, what is gift deed of property, all this information about deed gift of property has been discussed in this article and free printable gift deed form is provided in this article.
The simple meaning of the gift deeds form means, that the gift is a transfer of ownership of the property to another person with natural love and affection and without any consideration (something in return), this is called a gift. In India, legal provisions for the transfer of property by way of gift have been provided under section 122 of the Transfer of Property Act, 1882.
|Format for Gift Deed
What is Gift Deed?
The form of gift deed is a transfer of ownership of the immovable property or movable property to another person in the view of love and affection and such transfer of ownership of property is made without any consideration.
In the gift deed of immovable property or movable property, the person who is gifting his/her property is called a Doner. And, the person who is accepting/receiving the property as a gift is called a donee. Whereas, the registration of a gift deed is mandatory.
Stamp duty for gift deed can be on the movable property or immovable property. Stamp duty on gift deeds has been provided under the Maharashtra Stamp Act, 1958. Gift deed stamp paper can easily be available in the stamp vendor shop. Generally, the stamp duty varies from 3% to 6% in Maharashtra.
Here, we have provided some samples of the format of gift deed drafts, take a look and you can download them in word or pdf format.
Format of Gift Deed
AND WHEREAS thus, the Donor is the owner of the said flat and hence, the Donor is having 100% share, right, title, interest in the said flat (Hereinafter referred to as “ said 100 % share in the said flatly”) and the donor is the absolutely entitled to the full and absolute right, title and interest in respect thereof as owner thereof.
1. The Donor out of his natural love and affection for the donee does make a gift of the said 100 % undivided share in ______________________________in the Building Known as _________________________________unto and to and in favour of the donee TO HAVE AND TO HOLD the same absolutely and FOREVER as the owner thereof.
2. That the donee does hereby accept the said gift made to him by the donor.
3. The donee shall get his name entered in the records of the rights in respect of the said 100 % share in the said flatly as the owner thereof.
4. The donor declares and confirms that he has not dealt with his interest and/or transferred and/or assigned and/or agreed to transfer and assign the benefit in respect of the said 100 % share in the said flat to any other person or persons whomsoever, and the donor represents that he has full right and absolute authority to enter into these presents.
By Money Gift Format / Cash Gift Format