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Revocable Gift Deed

Revocable Gift Deed Template for India

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Key Requirements PROMPT example:

Revocable Gift Deed

"I need a Revocable Gift Deed to transfer my ancestral property in Mumbai to my son, with the condition that I can revoke the gift if he attempts to sell the property before January 2025 or fails to maintain residence in India."

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Document background
The Revocable Gift Deed is a specialized legal instrument used in India when a property owner wishes to transfer property while maintaining the right to revoke the transfer under specific circumstances. This document is particularly useful in family settlements, estate planning, and charitable giving where the donor wants to retain some control over the gifted property. It must comply with the Transfer of Property Act, 1882, the Registration Act, 1908, and relevant stamp duty laws. The deed should clearly specify the property details, parties involved, and conditions for revocation. While gifts are generally irrevocable under Indian law, careful drafting of revocation conditions within legally permissible parameters makes this document effective for conditional property transfers. Common applications include transfers to family members with behavior-based conditions, charitable donations with specific use requirements, or educational endowments with performance criteria.
Suggested Sections

1. Parties: Identifies and defines the donor (giftor) and donee (recipient) with their complete details including names, ages, addresses, and legal capacity

2. Background: Explains the relationship between parties and context of the gift

3. Definitions: Defines key terms used in the deed including 'Property', 'Transfer Date', 'Revocation', etc.

4. Subject Matter of Gift: Detailed description of the property being gifted

5. Declaration of Gift: Formal statement of the donor's intention to gift the property to the donee

6. Conditions of Revocation: Specific circumstances under which the gift may be revoked by the donor

7. Possession and Rights: Details about transfer of possession and rights over the gifted property

8. Representations and Warranties: Donor's declarations regarding ownership, right to transfer, and property status

9. Execution and Registration: Requirements for proper execution and registration of the deed

Optional Sections

1. Tax Implications: Section addressing tax consequences of the gift, included when the value of the gift exceeds tax thresholds

2. Maintenance Obligations: Included when the gift comes with conditions regarding property maintenance

3. Third Party Rights: Required when there are existing tenants or other third-party interests in the property

4. Dispute Resolution: Optional section specifying mechanism for resolving disputes, particularly relevant for high-value gifts

5. Severability: Included when there's a need to ensure remaining provisions survive if any provision is found invalid

Suggested Schedules

1. Schedule A - Property Description: Detailed technical description of the gifted property including boundaries, measurements, and title details

2. Schedule B - Property Documents: List of all title and property documents being handed over

3. Schedule C - Revocation Conditions: Detailed listing of specific conditions and procedures for revocation

4. Schedule D - Existing Encumbrances: List of any existing mortgages, liens, or encumbrances on the property

5. Appendix 1 - Property Photos: Recent photographs of the property for identification purposes

6. Appendix 2 - Required Permits: Copies of relevant permits or certificates related to the property

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions





























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Relevant Industries

Real Estate

Private Wealth Management

Family Business

Agriculture (for agricultural land)

Non-Profit

Education (for institutional gifts)

Religious Institutions

Professional Services

Relevant Teams

Legal

Property Management

Wealth Advisory

Real Estate

Documentation

Compliance

Tax Advisory

Risk Management

Relevant Roles

Legal Counsel

Property Lawyer

Estate Planning Attorney

Wealth Manager

Property Manager

Real Estate Agent

Tax Consultant

Legal Documentation Specialist

Company Secretary

Property Valuation Expert

Registration Officer

Notary Public

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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