GIFT DEED

ABOUT GIFT DEED

The transfer of property  as a gift in India is governed by the Property Transfer Act of  1882 (the "Act"). Giving property means transferring  ownership of the property to another person by way of a gift. The gift commission is a means by which the owner of real estate or movable property  transfers his/her property to another person without receiving a gift. The person who donates property is called the giver and the person who receives the gift is called the donor. A donor must donate property voluntarily without the donation being considered valid under the law. For a gift to be valid, it must be accepted while the donor is alive. Contributions of real estate are effective when the donation is registered with the appropriate registrar or sub-registrar. A gift of movable property takes effect by registering a deed of gift or transferring property. After the registration of the  deed  of gift, the property is transferred from the donor to the finisher immediately, and the parties do not have to go to court for registration. If a donor wishes to donate real estate, registration of a donation agreement is mandatory. The gift should be made out of love and affection for what is done without any reward.

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