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Revocable Gift Deed

Revocable Gift Deed Template for Pakistan

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Key Requirements PROMPT example:

Revocable Gift Deed

"I need a Revocable Gift Deed for transferring my agricultural land in Punjab, Pakistan to my eldest son, with the condition that I can revoke the gift if the land is not used for farming purposes within 5 years of transfer."

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Document background
The Revocable Gift Deed is a crucial document in Pakistani legal practice, commonly used in family arrangements, estate planning, and charitable giving. It allows property owners to transfer assets while maintaining some control through revocation rights. The document must carefully balance the requirements of Pakistani civil law, particularly the Transfer of Property Act 1882 and the Gift Act 1963, with Islamic law principles regarding gifts (hiba). It is particularly relevant in situations where donors wish to transfer property but retain the ability to revoke the gift under specific circumstances, such as family settlements or conditional gifts. The deed must include comprehensive details about the property, clear revocation terms, and meet strict registration requirements under Pakistani law.
Suggested Sections

1. Parties: Identifies and provides full details of the Donor (gift-giver) and Donee (gift-receiver), including their legal capacity to give/receive gifts

2. Background: Explains the context of the gift, relationship between parties, and donor's intention to make the gift

3. Definitions: Defines key terms used in the deed including 'Gift Property', 'Effective Date', 'Revocation', and other relevant terms

4. Subject Matter of Gift: Detailed description of the gift property and its current ownership status

5. Declaration of Gift: Formal statement of the donor making the gift and transferring ownership to the donee

6. Acceptance: Clear statement of the donee's acceptance of the gift

7. Possession and Delivery: Details of how and when possession of the gift property will be transferred

8. Revocation Terms: Specific conditions under which the donor may revoke the gift and the process for revocation

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

10. Registration and Compliance: Provisions regarding registration requirements and compliance with applicable laws

11. Governing Law: Specification that the deed is governed by Pakistan law and Islamic principles

12. Execution: Signature requirements and witness provisions

Optional Sections

1. Multiple Donors/Donees: Required when there are multiple parties giving or receiving the gift, specifying their respective rights and shares

2. Conditions Precedent: Used when the gift is subject to certain conditions being fulfilled before taking effect

3. Special Conditions: Any specific conditions attached to the gift, such as maintenance obligations or usage restrictions

4. Power of Attorney: Required when any party is acting through an authorized representative

5. Tax Declarations: Statement regarding tax implications and responsibilities, if applicable

6. Dispute Resolution: Specific provisions for handling disputes, if parties wish to specify a particular mechanism

7. Language Declaration: Required when the deed is executed in multiple languages or needs to be translated

Suggested Schedules

1. Schedule A - Property Details: Comprehensive description of the gift property including measurements, boundaries, and title details

2. Schedule B - Property Documents: List of all title and ownership documents relating to the gift property

3. Schedule C - Property Valuation: Current market valuation of the property for stamp duty purposes

4. Schedule D - Encumbrances: List of any existing encumbrances, charges, or limitations on the property

5. Appendix 1 - Site Plan/Maps: Property maps, site plans, or layout drawings if the gift involves immovable property

6. Appendix 2 - Photographs: Recent photographs of the property for identification purposes

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
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Relevant Industries

Real Estate

Agriculture

Private Banking

Wealth Management

Family Business

Legal Services

Personal Estate Planning

Islamic Finance

Property Development

Charitable Organizations

Relevant Teams

Legal

Compliance

Property Management

Wealth Advisory

Document Processing

Real Estate

Islamic Banking

Risk Management

Client Relations

Registration

Relevant Roles

Legal Counsel

Property Lawyer

Estate Planning Attorney

Shariah Advisor

Property Manager

Wealth Manager

Real Estate Agent

Compliance Officer

Legal Document Specialist

Property Registration Officer

Notary Public

Family Law Specialist

Trust Officer

Estate Administrator

Industries






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