Gift Deed

No Objection Certificate (NOC) is required to prove that the other members of the family have no claim and/or objection to the gift deed.

A valid owner of the property can gift the property; a minor can receive a gift through the guardian but cannot make a gift.

A gift deed of an immovable property with the value of more than Rs. 100 should be in writing and should be registered.

As per section 123 of the Transfer of Property Act, the transfer of a gift of immoveable property must be a registered instrument signed by donor and attested by two witnesses.

ezyLegal can help you get your gift deed reviewed and provide you with the right legal guidance. You can upload your document and schedule your Consultation with an ezyLegal Lawyer.

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A will over deed of gift is advisable when you want to ensure a smooth succession of your assets after your death and where your purpose is to let your nominees inherit your properties. However,we use a deed of gift if you want to help someone who is in need of immediate help, it can only be achieved through the execution of the deed of gift.

Movable assets can, generally, be gifted just by hand delivery with no need of gift deed stamp duty but gifts of immovable property need to be done through gift deed which attracts stamp duty on gift deed at market value of the property as on the date of execution of the gift deed and is also required to be registered with gift deed registration charges.

Stamp duty for gift deeds is 2.5 percent of the property value in case the property is being transferred via gift deed in blood relation in the name of father, mother, son, sister, daughter-in-law, grandson or daughter as a gift which attracts gift deed stamp duty.