1.   Movable Property Gift Deed – Used for gifting assets like jewelry, shares, or vehicles.
2.   Immovable Property Gift Deed – Used for gifting land, houses, or apartments.
3.   Conditional Gift Deed – Imposes certain conditions on the donee regarding the use of property.
4.   Revocable Gift Deed – Can be revoked under specified conditions.
5.   Irrevocable Gift Deed – A permanent and unconditional transfer of ownership.

Points to Check Before Finalizing a Gift Deed

• The donor is the legal owner of the gifted property.
• The transfer is voluntary and without consideration.
• The donee has accepted the gift.
• The Gift Deed is signed in the presence of two witnesses.
• The document is registered as required under law.
• Applicable stamp duty is paid to avoid legal disputes.

Benefits of a Gift Deed

• Ensures a legally recognized transfer of ownership 
• Helps avoid future disputes regarding property distribution 
• Provides a tax-efficient method of asset transfer within family members
• Offers a cost-effective alternative to a will for immediate transfers
• Protects the donee’s ownership rights legally

Key Elements of a Gift Deed

• Clear identification of donor and done
• Accurate description of the gifted property
• Voluntary transfer declaration without coercion
• Legal acceptance by the done
• Stamp duty and registration compliance

Fundamental Provisions of a Gift Deed

1. Ownership Clause – Confirms that the donor is the rightful owner of the gifted property.
2. Voluntary Transfer Clause – Declares that the transfer is done without coercion or financial consideration.
3. Acceptance Clause – Requires formal acceptance by the done.
4. Irrevocability Clause – Specifies whether the transfer is revocable or irrevocable.
5. Legal Compliance Clause – Ensures adherence to stamp duty and registration requirements.
6. Witness Attestation Clause – Requires the signatures of at least two witnesses.

Sample Clauses of a Gift Deed

Typical Provisions of a Gift Deed

• Voluntary nature of the transfer
• Description and details of gifted property
• Acceptance by the donee
• Compliance with legal and tax requirements
• Stamp duty and registration formalities

Need for a Gift Deed

A Gift Deed is crucial for: 

• Legally transferring assets without monetary exchange
• Avoiding inheritance disputes
• Providing tax benefits under specified conditions
• Ensuring immediate and clear ownership transfer
• Strengthening legal security for the done

Common Gift Deed Terms