What is GIFT DEED?

A gift deed is a legal document which is a voluntary transfer of Gift from owner of property (known as DONOR) to the receiver of Gift (known as DONEE) without any exchange of money. Thus, it is a legally binding contract that transfers the ownership of a property (real estate) from one person to another. A gift deed is signed by the donor, and is attested by two witnesses. The stamp duty charges may vary from state to state, which must be paid according to the value of property.

Advantage of a Gift Deed

A Gift Deed is a written legal document which has a valid recognition. Thus, it is regarded as an evidence of the gift made to the Donee.

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