A gift deed is a valid document obtained after registering the transfer of a property to your beneficiary.
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It cannot be perceived through senses.
Another instance you may want to use a Gift Deed is when making a donation to a non-profit organization or charity.
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Whenever the gift involves an immovable property, it should always be transferred by a way of registered deed.
More commonly, donors use an irrevocable Gift Deed to transfer ownership of the property as soon as the document is signed and delivered to the recipient.
The essential elements of a gift are: The absence of consideration.
Things to be kept in mind for the gift deed are as follows: The gift deed should essentially mention the details of the property that is being gifted Details of the recipient are very donor important.
A very basic foundation of a gift lies behind the intention.