Gift Deed Registration
A Gift Deed is a legal document that records the voluntary transfer of ownership of movable or immovable property (like land, house, or money) from one person (the donor) to another (the donee) without any monetary consideration. To make the transfer legally valid and enforceable, the deed must be executed and registered under the Indian Registration Act, 1908.
Key Elements of a Gift Deed:
1. Parties Involved
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Donor: The person who gifts the property.
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Donee: The person who receives the gift.
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Full description of the property (location, boundaries, survey number, etc.).
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Declaration that the property is self-acquired and free from encumbrances.
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The deed should clearly state that the gift is made voluntarily and without any consideration.
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The donee must accept the gift during the lifetime of the donor.
5. Signatures and Witnesses
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Both parties and at least two witnesses must sign the deed.
Registration Process:
Step-by-Step Process:
1. Drafting the Gift Deed
Prepared on non-judicial stamp paper of value as per the Stamp Act of the respective State.
2. Payment of Stamp Duty & Registration Fees
Stamp duty rates vary by state and relationship between donor and donee (lower for family members in many states).
3. Execution of Deed
Donor and donee must sign the deed in presence of witnesses.
4. Visit the Sub-Registrar Office
Both parties (or their authorized representatives) must appear before the Sub-Registrar of Assurances in whose jurisdiction the property is located.
5. Verification & Registration
The Sub-Registrar verifies identity, witnesses, and documents.
Once verified, the deed is officially registered and legal ownership is transferred to the donee.