Gift Deed

A Gift Deed is a legal document that transfers ownership of property or assets from one person (the donor) to another (the donee) without any exchange of money. It is a voluntary and irrevocable transfer that must be executed as per the provisions of the Transfer of Property Act, of 1882.

Key Features of a Gift Deed :

  • Voluntary Transfer: A gift deed is executed without any monetary consideration.

  • Legal Documentation: It must be drafted on a stamp paper of appropriate value and registered at the sub-registrar’s office to be legally valid.

  • Donor & Donee Details: It includes details of both parties along with their consent.

  • Property Details: A detailed description of the gifted property is necessary.

  • Witnesses: At least two witnesses must sign the deed to confirm the transaction.

  • Tax Implications: Gifts above a certain value may attract taxes as per the Income Tax Act.

Importance of a Gift Deed :

A properly executed gift deed offers legal security to both the donor and the donee. It is commonly used for transferring property within family members for reasons like love and affection, charity, or religious purposes.

How Advocate Kuldeep Pal Can Help ?

  • Drafting error-free and legally sound Gift Deeds.

  • Ensuring all required documents are prepared for seamless registration.

  • Advising on the tax implications and legal validity of the transfer.

Power of Attorney (PoA)

A Power of Attorney (PoA) is a legal document that allows an individual (the principal) to authorize another person (the agent or attorney) to act on their behalf for financial, property, or legal matters.

Types of Power of Attorney :

  1. General Power of Attorney (GPA): Grants broad authority to manage various affairs.

  2. Special Power of Attorney (SPA): Limits authority to specific tasks or transactions.

  3. Durable Power of Attorney: Remains valid even if the principal becomes incapacitated.

  4. Non-Durable Power of Attorney: Becomes invalid if the principal becomes incapacitated.

Key Features of a Power of Attorney:

  • Clearly defines the powers granted to the agent.

  • Requires the principal’s signature and should ideally be registered to ensure legal validity.

  • Can be revoked by the principal at any time unless specified otherwise.

Importance of a Power of Attorney:

A Power of Attorney is essential for individuals who are abroad, elderly, or incapacitated, allowing trusted agents to manage their financial, legal, or medical decisions.

How Advocate Kuldeep Pal Can Help?

  • Drafting customized Power of Attorney documents tailored to your needs.

  • Advising on the appropriate type of PoA for your situation.

  • Ensuring legal compliance and seamless registration processes.

For expert guidance and professional legal documentation, contact Pal Legal Consultancy today.