What are the properties that can be Gifted through gift deed in india?

Essentials of a Gift Deed for Immovable and Movable Assets

When it comes to gifting through a gift deed, both immovable and movable properties hold the potential for transfer from the donor to the donee. Immovable property typically refers to land, a house, a flat, or any built structure. In such cases, specific aspects like NRI gift deed agreement and gift deed registration must be considered to ensure legality.

However, it's crucial to remember that the donor can only gift properties that are present at the time of registering the gift deed. It is not possible to gift a property that the donor excludes to obtain in the future. Moreover, proper gift deed documents required must be submitted to finalize the process.

Additionally, the donor can only gift properties for which they hold lawful ownership. For example, gift to NRI by resident Indian and gift from NRI to resident Indian require legal verification of ownership to avoid complications. The donor must possess legal ownership of the property at the time of creating the gift. Also, ensure compliance with regulations concerning Stamp duty on gift deed in blood relation and Income Tax on gift deed in blood relation for the smooth execution of transfers.

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Also Read: Gift Deed Documents in India: A Step-by-Step Guide