This Gift Deed (“Deed”) is made and executed on this ______ day of ___________, 20 (the “Effective Date”), by [Donor’s Name], residing at [Donor’s Address], hereinafter referred to as the “Donor,” in favor of [Recipient’s Name], residing at [Recipient’s Address], hereinafter referred to as the “Recipient.”
WHEREAS, the Donor is the lawful owner of certain property described in Schedule A attached hereto (the “Property”);
WHEREAS, the Donor wishes to gift the Property to the Recipient as an act of voluntary transfer and without any consideration;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Donor and the Recipient (collectively referred to as the “Parties”) agree as follows:
1. Gift and Transfer of Property
1.1 The Donor hereby gifts, transfers, and conveys full and absolute ownership of the Property to the Recipient, free from all encumbrances, liens, or claims of any third party.
1.2 The Recipient accepts the gift of the Property and acknowledges that no consideration is required or has been given for the same.
2. Rights and Obligations
2.1 The Recipient shall have full rights, powers, and authority to possess, use, and enjoy the Property without any interference from the Donor or any other person claiming through the Donor.
2.2 The Recipient shall be solely responsible for all expenses, taxes, and liabilities associated with the Property from the Effective Date onwards.
3. Representations and Warranties
3.1 The Donor represents and warrants that they are the lawful owner of the Property, and the Property is free from any legal or financial obligations or disputes.
3.2 The Donor further represents and warrants that they have full right and authority to gift and transfer the Property to the Recipient.
4. Governing Law and Jurisdiction
4.1 This Deed shall be governed by and construed in accordance with the laws of India.
4.2 Any dispute arising out of or in connection with this Deed shall be subject to the exclusive jurisdiction of the courts located in [City], India.
5. Entire Agreement
5.1 This Deed constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and understandings, whether oral or written.
IN WITNESS WHEREOF, the Donor has executed this Gift Deed as of the Effective Date first above written.
Schedule A – Description of Property:
[Provide a detailed description of the Property being gifted]