GIFT DEED

This Gift Deed (hereinafter referred to as the “Deed” or” Deed”) is made on [INSERT DATE ON WHICH THE DEED COMES INTO FORCE] (hereinafter referred to as the “Effective Date”) between:

[INSERT NAME OF THE DONER] residing at [INSERT ADDRESS OF THE DONER] (hereinafter referred to as the “Donor” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); and 

[INSERT NAME OF THE DONEE] residing at [INSERT ADDRESS OF THE DONEE] (hereinafter referred to as the “Donee” shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns).

The “Donor” and the “Donee” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS

1. The Donor is the rightful owner of [MENTION DESCRIPTION OF THE ASSET OR PROPERTY] located at [MENTION ADDRESS OF THE PROPERTY].
2. The Donor out of love and affection and without any monetary consideration desires to gift the above-mentioned Property to the Donee.
3. The Donee willingly accepts the gift and agrees to take possession and assume all responsibilities associated with the property.
4. The parties are duly authorized and have the capacity to enter into this Deed.
5. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. DEFINITIONS
   1. “Property” shall refer to the real asset or any tangible asset of the Donor.
   2. “Confidential Information" means any non-public information, data, documentation, trade secrets, know-how, or any other information disclosed by one party to the other party in connection with this Deed, whether in written, oral, electronic, or any other form, and identified as confidential or which the Parties should reasonably understand to be confidential.
2. DESCRIPTION OF GIFT
   1. The Donor hereby irrevocably gifts, transfers and conveys the property located at [INSERT PROPERTY LOCATION] with dimensions [INSERT PROPERTY DIMENSIONS].
   2. The Donor acknowledges and affirms their intent to transfer full ownership and title of the property to the Donee without any further encumbrances or obligations.
   3. The Market Value of the Gifted Property has been assessed at [INSERT AMOUNT OF THE PROPERTY] as per the market rates certified by the Government.
3. ACCEPTANCE OF GIFT
   1. The Donee hereby acknowledges and accepts the gifted property described in the "Description of Gift" clause of this gift deed.
   2. The Donee affirms that they accept the gifted property willingly and without any monetary consideration.
   3. The Donee acknowledges that they are assuming full ownership, title, and responsibility for the Gifted Property
   4. The Donee further confirms that they understand the nature of this gift, made out of natural love and affection, and that they have no obligations or liabilities arising from this gift except as expressly stated herein.
4. DELIVERY OF POSSESSION
   1. The Donor hereby agrees to deliver possession of the Gifted Property, on or before [INSERT DELIVERY DATE].
   2. The Donor shall ensure that the Gifted Property is vacant and free from any encumbrances, claims, or third-party rights at the time of possession transfer.
5. REPRESENTATIONS AND WARRANTIES
   1. The Donor represents and warrants that it is the sole legal owner of the gifted property and has full power, authority, and legal right to transfer the property as gift to the Donee.
   2. The Donor represents and warrants that the gifted property is free from any liens, mortgages and encumbrances, except as otherwise disclosed to the Donee.
   3. The Donor represents and warrants that the gifted property is self-acquired property, accumulated out of income earned and has full right and authority to dispose of the same in any manner he may think fit.
6. RIGHTS OF THE DONEE
   1. The Donee acquires full ownership, possession and title of the gifted property as specified in the gift deed and use the gifted property accordingly.
   2. The Donee has the right to sell, lease, mortgage, and transfer the gifted property as they may think fit. If the gifted property generates any rental income, the donee has the right to retain and use such income.
7. DECLARATION
   1. The parties hereby understand and expressly agree to the provisions laid down in the present deed and in good faith, undertake that both parties shall follow the terms of this gift deed in good conscience in order to secure better growth of both the Parties.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this Deed as of the effective date.

Signed, sealed and delivered on behalf of Donor

Name: [INSERT NAME OF THE DONOR/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF DONOR]

Signed, sealed and delivered on behalf of Donee

Name: [INSERT NAME OF THE DONEE/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF DONEE]