Gift Deed Registration

Gift Deed Registration in Jaipur

When the donor desires to provide immovable property to the donee, the registration of the gift deed must take place. To ensure that your gift is legally recognized and properly documented, it’s essential to go through the process of gift deed registration. Vyapar Suraksha, a trusted name in legal services, offers a streamlined and hassle-free way to register gift deeds in Jaipur. We has a team gift deed lawyers in Jaipur who specialize in property transactions and gift deed registration. Before proceeding with registration, our gift deed lawyer conduct a thorough review of all documents to identify and rectify any discrepancies or issues. This step ensures a smooth and error-free registration process. The gift of immovable property is lawful under Section 123 of the Transfer of Property Act, 1882 when made through a registered gift deed signed by the donor and the donee and witnessed by two witnesses. When giving under a registered gift deed or by handing the property to the donee, the gift of moveable property is lawful. To get registered, the gift deed must be in writing on stamped paper and include all of the provisions.

gift-deed-registration-in-jaipur

What are the essential clauses in a Gift Deed?

You are required to mention certain things in a Gift Deed being a critical legal document.

  1. Clause for Consideration: It should be mentioned in the Gift Deed that there is no exchange of money or any other type of consideration is involved, and the transfer is being made out of love and affection. It will not be considered as a gift if it is relevant to how small the consideration is.
  2. Possession of Property: It would be best if you were the titleholder of that immovable property in your possession, i.e. the property you want to gift. The property must exist while making a gift because you cannot gift anything that you possibly can get in the future.
  3. Free Consent: The transfer should be free from any undue influence, coercion, fear, or threat. The gift should clearly state that transferor has a clear intention of doing so, and the transfer is voluntary.
  4. Property Details: An exhaustive description of the property must be included, which may specify the address, structure, color, location, area, etc.
  5. Details of Donor and Donee: To justify, whether they are blood relatives or not, the relationship between donor and donee is important to note. Some state governments also offer a concession on stamp duty if gifts are made to blood relatives.

What are Documents required for Gift Deed registrations?

After making sure that your Gift Deed is signed & attested by witnesses, you have to pay the stamp duty and registration charges as per your state regulations. You need to carry a few other documents like :

1.

Property Documents

For real estate or immovable property, you’ll need the property documents, which include the sale deed, title deed, and any other legal documents proving the donor’s ownership of the property.

2.

Identity Proof of Donor

The donor must provide proof of identity, typically in the form of a government-issued photo ID such as a passport, driver’s license, Aadhar card (in India), or any other relevant ID as per local regulations.

3.

Identity Proof of Donee

Recent passport-sized photographs of both the donor and donee may be required.

4.

Residential Proof of Donor and Donee

Both the donor and donee should provide proof of their residential address. This can be established through documents such as utility bills, ration card, voter ID card, or any other government-issued address proof.

5.

Photographs

 Recent passport-sized photographs of both the donor and donee may be required.

6.

No Objection Certificate (NOC)

Depending on local regulations, you might need a No Objection Certificate from the local municipal authority or housing society, if applicable.

7.

Stamp Duty and Registration Fees

Proof of payment of stamp duty and registration fees should be provided. These fees vary based on the property’s value and location.

8.

PAN Card

 the PAN (Permanent Account Number) card of both the donor and donee may be required for taxation purposes.

Advantage of Gift Deed Drafting in Jaipur

You can choose to whom he wanted to transfer his property.

Since gift deed are need to be registered, thus better clarity regarding the matter i.e. who is owner of property.

You can save tax since transfer using gift deeds are tax free in the hands of donor and done.

Cancellation of A Deed of Gift?

Deed of Gift can be Cancelled by Donor by filling Declarative Suit and expressing only if there is any fraud or undue influence within 3 years from the execution and registration of the Deed.