P.C. Joshi (service) 19 August 2009

Format of Gift to minor

Can any member provide me a draft of gift deed for gift to minor(prferably gift of movable property such as money or shares)

regards

P.c. Joshi

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A V Vishal (Advocate) 19 August 2009

DEED OF GIFT OF MOVEABLE PROPERTY

I, Mr ............. residing at ............ do hereby make a gift of the cash of Rs...........(in words........................) and the following shares specified in the schedule hereinunder written to my minor son/daughter Master/Miss ............ represented by......................(name of the guardian viz. the mother or father) in consideration of natural love and affection on the occasion of his/her ....................(specify the Occassion).

SCHEDULE

SIGNED

DONOR

Witnesses.

1.............

2.............

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AEJAZ AHMED (Legal Consultant/Lawyer) 19 August 2009

DEAR MR. JOSHI,

Formate posted by Mr. Vishal is also good, and for detail formate of GIFT DEED, kindly go through the attached Document File.

Attached File : 37 gift deed.doc downloaded: 1734 times

P.C. Joshi (service) 21 August 2009

Dear memebers,

For gift to a minor, the minor should be acting through a natural guarduan and the acceptance shoul;d be thr such guardian. Suppose a father has gifted money to a minor girl, can the father himself act as donor as well as guardian for such minor OR the guardian in the gift dded has to be a different person say mother of the monor.Pls clarify this point.

Secondly, whether the gift deed of money is required to be registered.

Regards

P.C. Joshi

A V Vishal (Advocate) 21 August 2009

Yes the father can act both as donor and guardian. A gift deed for money or other movable assets need not be registered only gift deed for immovable assets needs to be registered.