Gift Deed

    Gift Deed in Indore

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      INDORE LAWYERS

      Gift Deed in Indore

      A Gift Deed is a legally recognized document that records the voluntary transfer of ownership in a property or asset from one person (the donor) to another (the donee) without monetary consideration. The transfer must be made out of free will, accepted by the donee during the donor’s lifetime, and registered with the sub-registrar’s office under the Indian Registration Act, 1908.

      Gift Deeds are often executed for properties transferred between family members or as part of estate planning to avoid future disputes. They are civil transactions governed by property and registration laws.

      At Indore Lawyers, our property lawyers in Indore assist clients in drafting, reviewing, and registering Gift Deeds that are legally sound, properly stamped, and enforceable before the authorities.

      Steps to File for Gift Deed in Indore

      Step 1: Legal Consultation & Draft Preparation

      Our lawyers first assess the property ownership documents and understand the donor’s intention behind gifting. A preliminary consultation ensures the property is transferable and all legal prerequisites are met before drafting the deed.

      Step 2: Drafting, Stamp Duty & Execution

      A customized Gift Deed is prepared to reflect the donor’s wishes clearly. The stamp duty is calculated based on the property’s market value and relationship between the donor and donee. The deed is then signed by both parties and witnessed as required under law.

      Step 3: Registration at Sub-Registrar’s Office

      The finalized Gift Deed is presented before the sub-registrar’s office in Indore. Both donor and donee must be present for registration, along with witnesses. Upon payment of stamp duty and registration fees, the donee receives the registered deed, completing the legal transfer.

      Documents Required for Gift Deed in Indore

      Title Deed of the Property

      Proof of ownership and transferability of the property.

      Passport-size Photographs

      For verification and registration records.

      Payment Receipt of Stamp Duty and Fees

      Confirms completion of registration charges.

      Encumbrance Certificate

      Confirms that the property is free from legal dues or claims.

      Proof of Relationship

      Needed when gifting to relatives to avail stamp duty concession.

      Property Tax or Utility Bill

      Serves as address proof for property verification.

      Identity Proofs of Donor and Donee

      Aadhaar, PAN, or other government-issued ID cards.

      Draft Gift Deed

      Prepared and reviewed by legal professionals before execution.

      Frequently Asked Question on Gift Deed in Indore

      Yes. For immovable property, registration under the Indian Registration Act, 1908, is mandatory in Indore. Without registration, the transfer is invalid in the eyes of law.

      A registered Gift Deed can only be revoked if specific revocation conditions are mentioned in the deed and agreed upon by both parties. Otherwise, it remains irrevocable.

      Indore Lawyers help clients in drafting, calculating applicable stamp duty, and completing registration at the sub-registrar’s office to ensure lawful and dispute-free transfer of ownership.

      A Gift Deed involves no monetary exchange and is made voluntarily, while a Sale Deed transfers ownership for consideration or payment.

      Gifts to certain relatives are exempt from income tax under Section 56(2)(x) of the Income Tax Act. However, gifts to non-relatives may attract tax depending on property value.