A gift deed is an authorized report used to voluntarily transfer a property as a gift from the donor to a donee without the exchange of money. The gift can be transferred to an individual or an institution which should be approved by way of the donee within the lifetime of the donor. Only an immovable property that exists within the reward will also be transferred.
1. The person transferring the property is referred to as the donor and the person accepting the gift is the Donee. 2. A minor cannot be a donor, generally minor is a Donee. 3. If the property is gifted to a minor, on behalf of a minor, a natural guardian can accept a gift containing a situation that the person nominated within the gift deed will act as a manager of the proficient property. 4. The man or woman making the gift and the one receiving must each sign the gift deed.