Gift Deed:
- Legal document
- Transfers property ownership
- Without consideration (free)
- Immediate effect
- Irrevocable once registered

Governed By:
- Transfer of Property Act, 1882 (Sec 122-129)
- Indian Stamp Act
- Registration Act, 1908

Key Elements:
- Donor (giver)
- Donee (receiver)
- Subject matter (property)
- Voluntary transfer
- Acceptance by donee

Movable Property:
- Cash and bank deposits
- Jewelry and valuables
- Vehicles
- Shares and securities
- Furniture and electronics

Immovable Property:
- Land
- Buildings
- Apartments
- Commercial property
- Agricultural land

Intangible Property:
- Copyrights
- Patents
- Business interests

1. Avoid Succession Hassles:
   - No probate needed
   - Immediate transfer
   - No disputes after death

2. Reduce Family Conflicts:
   - Clear distribution during lifetime
   - You explain your decisions
   - Less scope for challenges

3. See Beneficiary Enjoy:
   - Emotional satisfaction
   - Help when needed most
   - Control over timing

4. Estate Planning Tool:
   - Part of larger plan
   - Combine with will
   - Strategic wealth transfer

5. Tax Planning (Sometimes):
   - May reduce estate value
   - Gift to specified relatives: tax-free
   - Capital gains consideration

1. Irrevocable:
   - Cannot take back
   - Even if circumstances change
   - Donor loses control

2. Loss of Income:
   - Rental income goes to donee
   - Interest/dividends lost
   - May affect lifestyle

3. Relationship Risk:
   - Donee may become ungrateful
   - Family dynamics may change
   - Security concerns

4. Tax Implications:
   - Gift tax for non-relatives
   - Capital gains possible
   - Stamp duty costs

For Valid Gift:
1. Transfer of ownership
2. Without consideration
3. Voluntary (no coercion)
4. Donor has capacity
5. Donee exists (or conceived)
6. Property exists
7. Acceptance by donee

Mandatory:
1. Written instrument (gift deed)
2. Signed by donor
3. Witnessed by two persons
4. Registered with Sub-Registrar
5. Proper stamp duty paid
6. Accepted by donee

Options:
1. Written gift deed (recommended)
2. Delivery of possession
3. Registration not mandatory
4. But written record advisable

1. Title:
   "DEED OF GIFT"

2. Date and Place:
   "Executed on this [date] at [city]"

3. Parties:
   Donor: [Full name, address, age]
   Donee: [Full name, address, age]
   Relationship: [Specify relationship]

4. Recitals:
   - Donor's ownership
   - Reason for gift (optional)
   - Love and affection

5. Gift Clause:
   "The Donor hereby gifts, transfers, and 
   conveys to the Donee, absolutely and 
   forever, the following property..."

6. Property Description:
   - Complete address
   - Survey/plot numbers
   - Boundaries
   - Measurements
   - Registration details

7. Declaration:
   - Transfer is voluntary
   - Without consideration
   - Free from encumbrances
   - Donor is of sound mind

8. Acceptance:
   "The Donee hereby accepts the gift"

9. Signatures:
   - Donor
   - Donee
   - Two witnesses

DEED OF GIFT

This Deed of Gift is made on the [date] 
at [city]

BETWEEN:

[Name], aged [age] years, S/o or D/o 
[Father's Name], residing at [Address],
hereinafter called "DONOR" (which expression 
shall include their heirs, executors, 
administrators)

AND

[Name], aged [age] years, S/o or D/o 
[Father's Name], residing at [Address],
hereinafter called "DONEE" (which expression 
shall include their heirs, executors, 
administrators, assigns)

WHEREAS:

1. The Donor is the absolute owner of the 
property described in Schedule hereunder.

2. The Donor out of natural love and affection 
towards the Donee desires to gift the said 
property.

NOW THIS DEED WITNESSES:

1. In consideration of natural love and 
affection, the Donor hereby gifts, grants, 
transfers and conveys unto the Donee, 
absolutely and forever, the property 
described in the Schedule below.

2. The Donor declares that:
   a) This gift is voluntary and made of 
      free will
   b) The property is free from all 
      encumbrances
   c) The Donor is of sound mind
   d) The Donor has not executed any other 
      transfer of this property

3. The Donee hereby accepts this gift.

4. The Donor has delivered possession of 
the property to the Donee.

SCHEDULE
(Description of Property)

[Complete property details]

IN WITNESS WHEREOF, the parties have 
executed this Deed on the date first 
above written.

DONOR: _____________
(Name)

DONEE: _____________
(Name)

WITNESSES:
1. _____________
2. _____________

Location:
- Sub-Registrar of Assurances
- Where property is located
- Or where gift deed executed

For Registration:
□ Original gift deed
□ 2 copies of deed
□ Stamp paper (appropriate value)
□ ID proof (donor and donee)
□ Address proof
□ Property documents
□ Latest property tax receipts
□ Encumbrance certificate
□ Photos (donor, donee, witnesses)
□ PAN cards
□ Witness ID proofs

Step 1: Draft gift deed
Step 2: Purchase stamp paper
Step 3: Execute (sign) the deed
Step 4: Visit Sub-Registrar office
Step 5: Submit documents
Step 6: Biometric and photo capture
Step 7: Pay registration fee
Step 8: Receive registered deed

Typical Timeline:
- Appointment booking: 1-7 days
- Registration: Same day (usually)
- Registered deed copy: 1-2 weeks

Stamp Duty Varies by State:

Maharashtra:
- 3% for family members
- 5% for others
- + 1% registration fee

Karnataka:
- Rs. 1,000 for close relatives
- 5% for others

Delhi:
- 4% for males
- 2% for females
- + 1% registration

Tamil Nadu:
- 7% (with concessions for relatives)

Note: Rates change - verify current rates

Based On:
- Circle rate/guidance value OR
- Market value (whichever higher)
- State-specific calculation

Example:
Property circle rate: ₹50 lakhs
Stamp duty (3%): ₹1,50,000
Registration (1%): ₹50,000
Total: ₹2,00,000

Many States Offer Concessions:

Close Relatives Usually Include:
- Spouse
- Children
- Parents
- Siblings
- Grandchildren
- Grandparents

Concession:
- Flat fee (Rs. 1,000-5,000)
- Or reduced percentage
- Check state-specific rules

Capital Gains:
- Gift is transfer under IT Act
- Capital gains may be triggered
- But for specified relatives: Exempt

Specified Relatives (Sec 56):
- Spouse
- Brother/sister
- Brother/sister of spouse
- Brother/sister of parents
- Any lineal ascendant/descendant
- Lineal ascendant/descendant of spouse

Gift to Non-Relatives:
- No capital gains for donor
- But donee may have gift tax liability

Gift Tax (in Donee's hands):

From Specified Relatives:
- Fully exempt
- No gift tax

From Non-Relatives:
Aggregate gifts > ₹50,000 in a year:
- Entire amount taxable as income
- Not just excess over ₹50,000
- At donee's tax slab

Immovable Property:
If stamp duty value > ₹50,000:
- Difference taxable if from non-relative
- Based on stamp duty value

Income from Gifted Property:

Gift to Spouse:
- Income clubbed with donor
- Section 64 applies

Gift to Minor Child:
- Income clubbed with parent
- Higher earning parent

Gift to Daughter-in-law:
- Income clubbed with person making gift
- Until specific conditions

Features:
- Complete transfer
- No conditions
- Immediate ownership
- Irrevocable
- Most common type

Features:
- Subject to conditions
- Must be lawful conditions
- Not contrary to public policy
- Condition must be possible

Example:
Gift of property with condition that donee 
cannot sell for 10 years

Validity:
- Courts may or may not uphold
- Depends on condition type

Features:
- Gift with burden/obligation
- Donee must fulfill obligation
- Can accept or reject entire gift

Example:
Gift of property with outstanding mortgage
Donee must take on mortgage liability

Features:
- Gift in contemplation of death
- Conditional on donor's death
- Revocable during lifetime
- Becomes absolute on death

Different from regular gift:
- Doesn't need registration
- Takes effect like will
- Can be revoked

Irrevocable:
- Once registered, cannot take back
- Ownership transferred permanently
- Even if relationship sours

Gift May Be Revoked If:

1. Mutual Agreement:
   - Both parties agree to cancel
   - Execute cancellation deed
   - Re-transfer property

2. Condition in Deed:
   - If gift deed includes revocation clause
   - On specified event
   - Rarely enforceable

3. Fraud or Coercion:
   - Gift obtained by fraud
   - Under undue influence
   - Court can set aside
   - Need to prove

4. Non-Compliance:
   - Donee fails to meet conditions
   - In conditional gift

Gift Better When:
- Want immediate transfer
- Avoid succession disputes
- Reduce estate complexity
- Relationship is stable
- Don't need property income

Will Better When:
- Want to retain control
- Circumstances may change
- Need property income
- Multiple potential recipients
- Want flexibility

Valid With:
- Natural guardian accepts
- Property vests in minor
- Guardian manages till majority

Documentation:
- Guardian signs on behalf
- Minor cannot reject
- Registration still required

Process:
- Can gift to residents
- Power of Attorney if not present
- Consular attestation of POA
- Registration in India
- FEMA compliance

Hindu Male:
- Only undivided share
- Not entire ancestral property
- Other coparceners have rights

Self-Acquired:
- Can gift entirely
- No restrictions

Consider:
□ Can you afford to give up property?
□ Will you need it for old age?
□ Is relationship stable?
□ Tax implications understood?
□ Have you consulted family?
□ Is donee mature enough?

Options:
1. Retain life interest
2. Gift only remainder
3. Make to trust with conditions
4. Gradual gifting
5. Other properties for self

Keep Records:
□ Original gift deed copy
□ Registration receipt
□ Property documents
□ Valuation report
□ Tax advisor letter
□ Family agreement (if any)