What is a gift deed?

1. A gift deed is a document used to voluntarily transfer ownership of property or assets from one person to another without any exchange of money.
2.It can be used to transfer both movable and immovable property.
3.The gift deed must be executed by the donor, stating the intention to gift the property. The receiver should accept the gift during the donor’s lifetime.
4.Registration of the gift deed is mandatory for immovable property and must be done at the local sub-registrar’s office.
5.Once executed and registered, a gift deed is generally irrevocable, unless there is a legal basis for revocation.


Content courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.