Everyone loves gifts! You may hardly people who do not like gifts. However, it is different that some people accept it open-heartedly and open-mindedly, whereas others cannot realize that. The value of a gift multiplies quite a few times if it is related to a gift that includes property. Everyone who is planning to gift a property to someone closer to their heart, then they need to complete all the formalities by furnishing all necessary information with the help of a lawyer near me with gift deed format in India.

If you are also planning such a thing, then you must know the rules here before you fill-up the format or execute a deed for the gift deed of the property in India. The following are a few of the concerned rules for gift deeds of property!

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Is making and presenting a gift deed valid in India?

Yes, it is! However, the owner of the property needs to meet all the necessary formalities before submitting the deed for approval and also for registration in the name of the new owner. The following are a few important points mentioned in the Transfer of Property Act of 1882. In such cases a property lawyer in Kolkata will helpful for everyone. Here, the owner must have adequate knowledge before submitting the application in the prescribed format:

• A gift is an outcome of pure love and affection for the receiver.
• The process cannot involve anything in return for deliberation.
• The gifted property can be anything, including moveable and immovable property. Here, the property needs to be registered with the law!
• The owner becomes the donor and the receiver becomes a donee!
• The donor must complete all the formalities without any type of compulsion
• As per the standing legal practice, a minor child cannot be a donor.
• The donee or somebody in a relationship must accept the property
• The donee can sell the gift after it is transferred to his name. Completion of the process becomes a critical procedure where multiple formalities are met and a complicated procedure is taken care of.

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Different Ingredients of Gift Deed Of Property:

The following things/entities are necessary for the completion of the process of gifted property from the donor to a donee:

• Details of the donor
• Details of the donee
• All the information related to the property
• Documents related to the details of the property
• Ownership of the donor
• Lack of consideration
• Voluntary transfer
• Condition
• Details of donor’s rights
• Intention to deliver
• Acceptance by donee
• Witnesses

While you plan to prepare a gift deed of the property, every donor must cooperate with the donee so that the people can complete all the procedures safely.

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