Outlook Money
A gift deed is a legally enforceable document in which the donor expresses his desire to give a property to a donee.
For a Gift deed to be legitimate, it must be registered with the sub-registrar after paying the necessary legal fee.
The donor should be of legal age, or the deed could get rejected as a minor cannot transfer a property.
The gift deed should be made of free will; any force or undue influence will make it invalid.
A gift deed can be made only for an existing property, not something to be acquired in the future.
A gift deed can be revoked if it is made due to monetary considerations.
The donor should be of sound mind while making the deed for it to be legally binding, or it can be revoked.
The parties involved can decide if they want to rescind the deed through mutual agreement after a certain period.
Compiled By Himani Verma