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A Gift Deed is a legal document describing voluntary transfer of the property from the donor (owner of the property) to the donee (receiver of the gift) without any exchange of consideration.
It must be well defined existing movable or immovable property. It must be transferable and existing today and not be a future property. It must be tangible.
It should include- Relationship details of the donor with the donee, Rights and authority of the donor, Description of the property being gifted, Confirmation clause on the delivery of possession.
Don’t worry, just fill the above mentioned details & contact the professionals of Aapkaconsultant.com and we will guide you with the complete process.
Registration of a Gift Deed is done as per the provisions of the Registration Act, 1908. Common steps involved in registration process are: • Valuation of property being gifted by an approved valuation expert. • Payment of Stamp duty and transfer duty. It varies from state to state and for current rates one should visit the official website of the respective State Governments.