Gift Deed

GIFT DEED This GIFT DEED is executed at [place_of_execution] on [execution_date] BETWEEN [donor_name], [donor_relation] of [donor_father_name], residing at [donor_address], hereinafter referred to as "the DONOR" of the ONE PART; AND [donee_name], being the [donee_relationship] of the Donor, residing at [donee_address], hereinafter referred to as "the DONEE" of the OTHER PART. RECITALS A. The Donor is the absolute and lawful owner of the immovable property described in the SCHEDULE below (hereinafter "the Scheduled Property"), having acquired the same by way of [prior_title_document]. B. The Donor is in lawful possession of the Scheduled Property and has a clear and marketable title thereto, free from encumbrances. C. The Donor, out of [reason_for_gift], and of the Donor's own free will, without any coercion, fraud, undue influence or consideration of any kind, desires to gift the Scheduled Property to the Donee. NOW THIS DEED WITNESSETH AS FOLLOWS: 1. GIFT 1.1 The Donor hereby voluntarily and without any consideration whatsoever transfers, conveys and gifts unto the Donee the Scheduled Property, TO HAVE AND TO HOLD the same unto the Donee absolutely and forever, together with all rights, easements and appurtenances belonging thereto. 1.2 This transfer is made purely as a gift within the meaning of Section 122 of the Transfer of Property Act, 1882, and no consideration in money or money's worth has passed or is intended to pass between the parties. 2. ACCEPTANCE BY THE DONEE The Donee hereby accepts the gift of the Scheduled Property. The parties record that such acceptance has been made during the lifetime of the Donor and while the Donor remains capable of giving, as required by Section 122 of the Transfer of Property Act, 1882. 3. DELIVERY OF POSSESSION The Donor has, simultaneously with the execution of this Deed, delivered vacant and peaceful possession of the Scheduled Property to the Donee, and the Donee acknowledges having taken such possession. 4. DECLARATIONS BY THE DONOR The Donor declares that: 4.1 The Donor is of sound mind, has attained majority, and is legally competent to make this gift; 4.2 This gift is made voluntarily and free from coercion, misrepresentation, fraud or undue influence of any person; 4.3 The Scheduled Property is free from all encumbrances, charges, liens, litigation and claims of any nature; 4.4 The Donor has not previously gifted, sold, mortgaged, leased or otherwise alienated the Scheduled Property or any part of it to any other person; 4.5 From the date of this Deed the Donor retains no right, title, interest or claim of any nature in the Scheduled Property. 5. IRREVOCABILITY This gift is absolute and irrevocable. The parties record that a gift once completed under Section 123 of the Transfer of Property Act, 1882 cannot be revoked at the mere will of the Donor, and may be revoked only on grounds recognised by Section 126 of that Act. 6. MUTATION AND RECORDS The Donee shall be entitled to have the Scheduled Property mutated into the Donee's name in the records of the revenue authorities, the municipal corporation, and any housing society or other body concerned, and the Donor shall render all reasonable cooperation for that purpose. 7. STAMP DUTY AND REGISTRATION 7.1 This Deed is compulsorily registrable under Section 17 of the Registration Act, 1908, and under Section 123 of the Transfer of Property Act, 1882 a gift of immovable property is valid only if effected by a registered instrument attested by at least two witnesses. 7.2 Stamp duty is payable at the rate prescribed by the State in which the Scheduled Property is situated. Several States levy a concessional rate where the gift is made to a specified close relative; the applicable rate and any concession should be confirmed with the jurisdictional Sub-Registrar before execution. 7.3 Stamp duty and registration charges shall be borne by the Donee unless agreed otherwise. SCHEDULE OF PROPERTY [property_description] Bounded as follows: [property_boundaries] IN WITNESS WHEREOF the Donor has executed this Gift Deed and the Donee has accepted the same on the day, month and year first above written, in the presence of the witnesses named below. DONOR DONEE [donor_name] [donee_name] WITNESSES 1. Name: ______________________ Signature: ______________ Address: ______________ 2. Name: ______________________ Signature: ______________ Address: ______________