Gift deed is an agreement that records the details of transfer of immoveable property made voluntarily without any consideration from the donor (owner of property) to the donee (receiver of gift). It is signed by the doner & the donee in the presence of 2 witnesses.
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PURPOSE OF GIFT DEED?
The purpose of the gift deed is to ensure that the donor gives the gift to done. It contains all the details regarding the property like address, total area of property or build up area, its exact location, etc.
CONTRACT EXECUTION OF GIFT DEED
Gift deed can be mandatory to draft on non-judicial stamp paper and registered at the jurisdictional sub registrar office. The value of stamp paper will differ from state to state in the country as per stamp act of the respective state. LegalRaasta can help you in providing the gift deed agreement format.
FREQUENTLY ASKED QUESTIONS
1. Do I need to get this document on a stamped / e-registered?
– Yes it is suggested that you get this contracts stamped/e-registered.