Format for gift deed, stamp duty for gift deed, what is gift deed of property, all this information about deed gift of property has been discussed in this article and free printable gift deed form is provided in this article.
The simple meaning of the gift deeds form means, that the gift is a transfer of ownership of the property to another person with natural love and affection and without any consideration (something in return), this is called a gift. In India, legal provisions for the transfer of property by way of gift have been provided under section 122 of the Transfer of Property Act, 1882.
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| Format for Gift Deed |
What is Gift Deed?
The form of gift deed is a transfer of ownership of the immovable property or movable property to another person in the view of love and affection and such transfer of ownership of property is made without any consideration.
In the gift deed of immovable property or movable property, the person who is gifting his/her property is called a Doner. And, the person who is accepting/receiving the property as a gift is called a donee. Whereas, the registration of a gift deed is mandatory.
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Stamp duty for gift deed can be on the movable property or immovable property. Stamp duty on gift deeds has been provided under the Maharashtra Stamp Act, 1958. Gift deed stamp paper can easily be available in the stamp vendor shop. Generally, the stamp duty varies from 3% to 6% in Maharashtra.
Here, we have provided some samples of the format of gift deed drafts, take a look and you can download them in word or pdf format.
Format of Gift Deed
This GIFT DEED is made at ________, on this_____day of ________, 20___, between Mr. ______________________ Age _____years, Occ:_______________, R/O________________________________________________________, hereinafter referred to as “THE DONOR” (which expression shall where the context so admits be deemed to include his legal heirs, administrators, successors and assigns) THE PARTY OF THE ONE PART.
AND
Mr.__________________________________ Age____ years, Occ:__________, R/O_________________________________, hereinafter referred to as “THE DONEE” (which expression shall where the context so admits, deemed to I nclude his heirs executors, successors, administrators, and representatives) THE PARTY OF THE SECOND PART
AND WHEREAS the Donor herein had acquired and purchased a Residential Premises bearing ____________________________in the Building Known as ________________________, being situate at _______________________________(hereinafter referred to as "SAID FLAT" ) for valuable consideration;
AND WHEREAS the Donor is the absolute and lawful member of the ________________________________ registered under the Maharashtra Co.op. Society Act, 1960.
AND WHEREAS thus, the Donor is the owner of the said flat and hence, the Donor is having 100% share, right, title, interest in the said flat (Hereinafter referred to as “ said 100 % share in the said flatly”) and the donor is the absolutely entitled to the full and absolute right, title and interest in respect thereof as owner thereof.
AND WHEREAS the said 100% share in the said flat is the self–acquired property of the donor purchased and acquired by him out of his own funds and means.
AND
WHEREAS the donee is the real Wife of the donor.
AND WHEREAS the donor bears love and affection for the donee.
AND WHEREAS out of such love and affection for the donor’s Wife i.e. donee, the donor has decided to make a gift of the said 100 % share in the said flatly unto the donee and the donor would like to gift transfer all the benefits rights, titles and interest in respect of the said 100 % share in the said flatly which is more particularly described in the Schedule written hereunder in the name of the donee;
AND WHEREAS the donee is ready and willing to accept the gift of the said 100 % share in the said flat, if made to him by the donor;
AND WHEREAS THE DONOR DOES HEREBY COVENANT WITH THE DONEE AS FOLLOWS:-
a. The Donor hereby assures that no notice under any law for the time being in force has been served upon him in respect of his rights, interest or benefits in respect of the said 100% share in the said flat.
b. There are no attachment or prohibitory orders as against or affecting the said flat and/or is not the subject matter of any easements or attachments. The Donor has not received any notice either from the Government, Semi-Government or Municipal Corporation regarding any of the proceedings in respect of the said 100 % share in the said flat.
c. The donor has good and clear title free from all encumbrances of any nature whatsoever of the said 100 % share in the said flat and every part thereof and there are no outstanding estates or effects by way of lease, sale, gift, trust or otherwise however outstanding against the Donor and/or against the said 100 % share in the said flat or any part thereof.
d. The donor has not done any act, deed, matter or thing whereby he is prevented from entering into this deed on the various terms and conditions as stated herein in favour of the donee and the donor has all the rights, title and interest to enter into this gift deed with the donee on the various terms and conditions as stated therein.
THIS GIFT DEED WITNESSETH AND NOW IT IS MUTUALLY AGREED AS FOLLOWS:
1. The Donor out of his natural love and affection for the donee does make a gift of the said 100 % undivided share in Residential Premises ______________________________, in the Building Known as _________________________________unto and to and in favour of the donee TO HAVE AND TO HOLD the same absolutely and FOREVER as the owner thereof.
2. That the donee does hereby accept the said gift made to him by the donor.
3. The donee shall get his name entered in the records of the rights in respect of the said 100 % share in the said flatly as the owner thereof.
4. The donor declares and confirms that he has not dealt with his interest and/or transferred and/or assigned and/or agreed to transfer and assign the benefit in respect of the said 100 % share in the said flat to any other person or persons whomsoever, and the donor represents that he has full right and absolute authority to enter into these presents.
5. The Donor shall Co-operate with the Donee without charging any fees to obtain any permission, No objection Certificate or any other Certificate from the said Corporation, said society or any other local competent authority.
6. The Donee shall observe all the terms and conditions, shall become the exclusive member of the said society and do hereby undertake to abide by the rules and regulations of the said Co-op. Society/ Corporation, the said society or any other competent authority.
7. The Donor agreed and undertake to sign all necessary papers, and documents required by the donee to effectually transfer his rights in respect of the said flatly in the name of the donee.
8. The donor does hereby declare and confirm that he, the donor, shall not have any right, title or interest in or over the said 100 % share in the said flat or any thereof.
10. The donee hereinafter shall have the right and absolute authority to enter into any agreement either in the form of sale, lease, mortgage, deed, exchange, assignment, WILL or in any other manner whatsoever in respect of the said 100 % share in the said flat and shall have right to deal with or dispose of the said flat or any part thereof in any manner whatsoever
10. That the stamp duty, registration charges, cost, and expenses of and incidental to the execution and registration of this deed shall be borne and paid in equal proportion.
THE SCHEDULE OF THE FLAT ABOVE REFERRED TO
ALL THAT premises being residential premises bearing ____________________________________, in the Building Known as “___________________________”. being situate at ________________________________ within the territorial limits of Municipal Corporation of ___________ and within the Registration Sub-District of ___________, District ————–.
IN WITNESS WHEREOF the parties hereto have hereunto set their hand and seal the day and year first hereinabove written:
SIGNED, SEALED AND DELIVERED )
By the within named ‘DONOR’ )
MR_________________________________
In the presence of ……………. )
1.
2.
SIGNED, SEALED AND DELIVERED )
By the within named ‘DONEE’ )
Mrs.________________________
In the presence of……………. )
1.
2.
By Money Gift Format / Cash Gift Format
I, Shri _____________________________– PAN –________, Occupation – ________, Aged: _______years, residing at ______________________________________, hereby make an absolute gift of Rs, __,___,____/- (Rupees ____________ Only) to my ______________________, PAN – __________________, residing at ____________________________________ out of love and affection towards her by Cheque No. ______________ of _____________Bank, _______dated – ____/____/________.
I have now no interest of any kind in the said amount and the donee is the absolute owner of the said amount and earnings from that amount. In witness whereof I have signed, executed and delivered this Deed of Gift on_____/_____/_______ at Pune and the donee has accepted the said gift.
Witness:
1.
2.
THE DONOR
(___________________________)
I have accepted the gift
- ______________
THE DONEE
Gift Deed Format for Money
THIS DEED OF GIFT made and executed at__________ this________ day of Two Thousand and________ by A B C, of___________, R/O ___________________________, hereinafter called “THE DONOR” (which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include his heirs, executors and administrators) of the ONE PART; AND P Q R, also of , R/O________________________, hereinafter called “THE DONEE” (which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include his heirs, executors, administrators and Assigns) of the OTHER PART.
WHEREAS
(a) The DONEE is the brother of the DONOR.
(b) The DONOR is absolutely seized and possessed of a large sum of money and which is his self-acquired and/or owned property.
(c) In consideration of the natural love and affection which the DONOR bears towards the DONEE, the DONOR out of his own free will and accord was desirous of making a gift of Rs. ___/- (Rupees
______ only) and which is duly gifted by DONOR to the DONEE in a manner appearing hereinafter;
(d) The DONEE has accepted the said gift by executing these presents in testimony hereof; and
(e) The fact of the said gift is recorded herein.
NOW THIS INDENTURE WITNESSETH THAT
for effectuating the aforesaid desire and in consideration of natural love and affection which the DONOR bears towards his brother the DONEE, the DONOR doth hereby grants, transfers, conveys and assigns by way of a gift a sum of Rs._______ /- (Rupees __________ only) as more particularly described in the Schedule hereunder written unto the DONEE TO HOLD the same unto and to the exclusive ownership and use of the DONEE forever and absolutely AND the DONOR doth hereby represents, warrants and covenants with the DONEE THAT he the DONOR has the good right, full power and absolute authority to pay and gift the said amount unto and to the use of the DONEE in the manner aforesaid AND IT are DECLARED AND CONFIRMED THAT the DONEE has become the absolute owner of the said amount of Rs.________ /- (Rupees ___________only) and the DONOR has ceased to have any beneficial right, title or interest in the same.
IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted the said gift, have put their respective hands the day and year hereinabove written.
SCHEDULE ABOVE REFERRED TO:
(amounts paid by the Donor to the Donee by way of GIFT)
SR.
NO. DATE CHEQUE NO. DRAWN ON AMOUNT (RS.)
Total
IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted the said gift, have put their respective hands the day and year hereinabove written.
SIGNED AND DELIVERED by )
the within named A B C, )
the DONOR abovenamed, )
in the presence of ……… )
1.
2.
SIGNED AND DELIVERED by )
the within named X Y Z )
the DONEE abovenamed, )
in the presence of ……….. )
1.
2.
Declaration of Gift of Money
I, ABC, of, Indian Inhabitant, having an address at ___________ do hereby solemnly affirm, state and declare as
under:-
- I have my own funds which are my self-acquired property and/ or otherwise exclusively belong to me. A part of the same is lying in my bank account No. _______ with the branch.
- Out of the said funds, I record having gifted a sum of Rs. /-(Rupees only) to my son QPR as under:-
SR.
NO. DATE CHEQUE NO. DRAWN ON AMOUNT
Total
- I record having gifted the above sum to my son QPR out of the natural love and affection that I bear for him.
- Since the date of the said gift, I have had no direct or indirect interest in the said sum and the same is now the absolute property of my son QPR.
- That this declaration is made by me of my own free will and accord and in a sound state of mind to make a record of the said gift absolutely clear.
- I am assessed to Income Tax by an Assessing Officer
and my Permanent Account Number (PAN) with the Income Tax Department is.
Solemnly declared at )
On this
day of 20 )
Before me;
Gift Deed of Movable Property
THIS DEED OF GIFT made and executed at this day of Two Thousand and by Mr._________________, Age____years, Occ:________, R/O___________________, hereinafter called “THE DONOR” (which expression shall unless it be repugnant to the context or meaning thereof, shall be deemed to mean and include his heirs, executors, administrators and assigns) of the ONE PART; AND Mr._____________________, Age____years, Occ:________, R/O_______________, hereinafter called “THE DONEE” (which expression shall unless it be repugnant to the context or meaning thereof, shall be deemed to mean and include his heirs, executors, administrators and assigns) of the OTHER PART.
WHEREAS
(a) The DONEE is the brother of the DONOR.
(b) The DONOR is absolutely seized and possessed of several movables and which are his self-acquired and/or owned property. The said movables are more particularly described in the Schedule hereunder written and are hereinafter referred to as “the said movables.”
(c) In consideration of natural love and affection which the DONOR bears towards the DONEE, the DONOR out of his own free will and accord is desirous of making a gift of the said movables to the DONEE and which has been duly gifted by the DONOR to the DONEE in the manner recorded hereinafter. For the purpose of the stamp duty, the said movables are valued at Rs.__/- (Rupees
only).
(d) The DONEE has accepted the said gift by executing these presents in testimony hereof; and
(e) The fact of the said gift is recorded herein.
NOW, THIS INDENTURE WITNESSETH THAT for effectuating the aforesaid desire and in consideration of natural love and affection which the DONOR bears towards his brother, the DONEE, the DONOR doth hereby grants, transfers, conveys and assigns by way of gift the said movables as more particularly described in the Schedule hereunder written unto the DONEE TO HOLD the same unto and to the exclusive ownership and use of the DONEE forever and absolutely AND the DONOR doth hereby represents, warrants and covenants with the DONEE THAT he the DONOR has the good right, full power and absolute authority to gift the said movables unto and to the use of the DONEE in the manner aforesaid AND IT IS DECLARED AND CONFIRMED THAT the DONEE has become the absolute owner of the said movables and the DONOR has ceased to have any beneficial right, title or interest in the same.
SCHEDULE ABOVE REFERRED TO:
(Give a description of the said movables)
IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted of the said gift, have put their respective hands the day and year hereinabove written.
SIGNED AND DELIVERED by )
the within named A B C, )
the DONOR abovenamed, )
in the presence of …… ) 1.
2.
SIGNED AND DELIVERED by )
the within named P Q R )
the DONEE abovenamed, )
in the presence of ……. ) 1.
Conclusion
Format for gift deed, stamp duty for gift deed, what is gift deed of property, all this information about deed gift of the property has been discussed in this article.