Académique Documents
Professionnel Documents
Culture Documents
2017- 2018
Rough Draft On
“Gift Deed”
RMLNLU Enrollment
Number- 150101078
Semester – Vth
Introduction
Gift is a Transfer of Property and is defined in Section 122 of the Transfer of Property Act, 1882.
It is a unique transfer of property in the sense that it involves no consideration. The basic essence
of a gift is the complete absence of consideration.1 The law of gifts in India is governed by
Sections 122 to 129 of the Transfer of Property Act, 1882. The right to gift away ones property
whether movable or immovable is an important right and an important element of property law.
Although a gift involves no consideration in the legal sense it involves the consideration of love,
affection, spiritual and religious benefit etc. whose importance cannot be overlooked. Thus the
law relating to gifts has a humane element in it and as such the law of gifts should be clear and
unambiguous without any scope for misuse and controversy. This objective might be idealist but
ultimately the law relating to gifts should always strive to protect the interests of the donee,
donor and the property involved in the greater interests of justice. A gift is a common mode of
transfer of property. It is the transfer of certain existing moveable or immoveable property by
one person to another. The transfer should be made voluntarily and without consideration. The
person transferring the property is called the donor. The person to whom the property is
transferred is referred to as the donee. The donee must accept the property during the lifetime of
the donor and while he is still capable of giving. In case the donee dies before acceptance, the
gift is void. The gift can be effected through a gift deed. A gift deed is a legal document that
records and details transfer of movable or immovable property from the donor (giver) to the
donee (receiver) without any exchange of money. The “gift” must be a well defined movable or
immovable property and be transferable. The deed should be based on the consideration of
natural love and affection of the Donor to the Donee. The donor in the gift deed must be solvent
and should not use this arrangement for illegal gains or tax evasion. Transfer of property,
specially an immovable one, needs to be documented in accordance with the Transfer of
Property Act, 1882 in India and must fulfill the conditions laid out. Registration of the gift deed
for an immovable property is mandatory and must be done with the Sub-Registrar in the area
where the property is situated.
Research Methodology
This research is descriptive and analytical in nature. Secondary and Electronic resources have
been largely used to gather information about the topic. Websites, books, journals and articles
have been primarily helpful in giving this project a firm structure. Footnotes have been provided
wherever needed to acknowledge the source.
Objective
Tentative Chapterisation
References
Acts/Statutes
Websites
1. http://articles.economictimes.indiatimes.com/2009-06-07/news/27647546_1_gift-deed-gifted-
property-donee
2. http://www.legalserviceindia.com/articles/transfer.htm
3. http://legalsutra.com/837/gifts-under-transfer-of-property-act
4. http://www.livemint.com/Money/PYvt8NpP8AXnea8nKAn9FI/For-a-transfer-of-property-
through-gift-deed-to-be-valid-it.html
5. http://taxguru.in/income-tax/faq-performa-gift-deed-list-relatives-gift-received-tax-
liability.html