Upgrad LLM

gift deed


I had received gift cheques from my father, mother and wife in May 2008 for the purchase of flat in my name.

However, then we were not aware that gift deeds should be made. Can Gift Deeds be made now mentioning the gift details?

 
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Would also request for the format of the gift deed and necessary procedures / formalities involved.

Thanks

 
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Legal Practioner

Definitely gift deed can be drafted even now.

 
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Advocate

GIFT DEED

KNOW ALL MEN BY THESE PRESENTS that I, _____________ S/o Sh.___________ r/o ____________________, transfers voluntarily, CASH OF  value of which is Rs._____________ (Rupees_____________ only) to my SON/HUSBAND/SON IN LAW SRI.____________ S/o of Sh._________________ (hereinafter referred to as "the donee") To Hold the same to the donee absolutely forever. I further declare that the said gift has been made by me out of my natural love and affection for the donee and the same has been accepted by the donee.
IN WITNESS WHEREOF, I have executed this deed this ________ day of __________.
Witness:

1.
 
DONOR
2.
 
DONEE

I, SRI. ______________, the donee hereby accept the gift. 

MODIFY THE FORMAT SUITABLY BY ADDING THE AMOUNT AND CHEQUE/ D D NOS'

 
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Thank you

 

 
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Kindly suggest on stamp paper of how much cost Gift Deed should be made?

Also can it be made in any city even where we don't have residence?

 
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ADVOCATE & SOLICITOR divyatta.r@gmail.com

AS PER MY VIEW GIFT DEED NEED NOT BE MADE , AS it is gift in terms of money. IN case of gift of money , it is option to execute  gift deed. u can ask ur C.A... WHETHER gift deed is required at the tim eof  filling return or at the time of scrutiny.

 
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Advocate

Dear Mr Singh

It is not necessary to execute the gift deed on a stamp paper. But have the same notarised that should be sufficient, registration of gift deed is necessary only in case of immovable properties.

 
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thanks for this valuable information.

 
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Would Witnessing such a family Gift Deed be necessary? Would simply signing by Donor and Donee without Witnesses be sufficient? Thank you.
 
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