Defined under Section 122 of the Transfer of Property Act,1882, any immovable property can be transferred through a gift deed
- A lawyer drafts a gift deed stating the name of the donor (property owner) and the donee (recipient).
- The cardinal rule is that the gift should be accepted by the donee. The acceptance is validated by acts such as taking over the possession of the property.
- The deed has to be registered in the subregistrar office where attestation of at least two witnesses is compulsory after which the transaction is affected.