Gift Deed in Delhi
Gift is a transfer of property from one person to another without any monetary consideration. Property can be movable or immovable. Gift deed is a document which records the act of transferring something by the donor to the donee. The person who makes gift deed is known as Donor and the person who receives the gift is known as donee. Registration of gift deed is compulsory.
The following constitutes a valid gift:
- There must be a donor, donee, property and the property can either be movable or immovable.
- The transfer must be by free will and must be out of love & affection.
- The transfer must be accepted by the donee.
Benefits of Gift Deed
- It records the transfer of the property to the donee.
- It has an evidentiary value and also acts as legal proof.
- It provides legal protection in case of future disputes.
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