Gift Deed.

[chaits]

Hello Folks,

1.Does any one has a format for gift deed? I would like to know if anyone ever has uploaded a gift deed.If you dont mind can i have a look at it?

2.Does the gift need to be registered or just signed and stamped would work? Does this gift deed needs to be of the same date as the money transfered or could it be of the recent date mentioning that money was transfered on so and so date.

3.Instead of gift deed what other options do we have to show the source of funds? Would an affidavit work?

 

[kuhu115]

Hi there,
I'm guessing you must've already sorted your query as this was posted a year ago but I am still repyling, in the hopes that someone else might find it beneficial.
This is the format of the gift deed that I used. A friend of mine used the same format and received his PR, I am awaiting mine. Please note that this is not an official format. It's just something that worked and it covers all points that the CIC mentions.

GIFT DEED

Between:

1) Jon Doe - Donor
2) James Doe - Donee


1. Mr. Jon Doe, (mother/father of James Doe) aged xx, resident of xxxxxxxx, hereby solemnly says and declares the following:

a) Out of my mutual love and affection that I bear towards my daughter/son James Doe (Passport no. xxxxx), I made an absolute gift of Rs. xxxx, vide online transfer, Transaction Reference no. – xxxxx, from my account no. – xxxxxx, address of bank on xx/xx/xxxx to James Doe's account no.- xxxxx, address of bank
(the transfer can also be through cheque, in which case add the cheque number and address of bank)

b) Furthermore, I declare that in the gift of Rs. xxxxxx, made by me to my daughter/son James Doe, I hold no share, right, title or interest possession, benefit claim or demand into or upon the sum and the gift is irrevocable. My daughter/son, James Doe is the absolute owner thereof and is free to utilize it in any manner.


2. James Doe, the donee named above says and declares the following:

a) The aforesaid gift of Rs. xxxxxxx, has been accepted by me.


b) I say that, since the making of the said gift and my acceptance thereof, I am the absolute owner of the said sum of Rs. xxxxxx and Mr. Jon Doe since then has no share, right, title or interest possession, benefit claim or demand of whatsoever nature on the said sum of Rs. xxxxxx



This Gift Deed is effective from xx/xx/xxx, from the date Mr. Jon Doe transferred the said sum to James Doe's account.




________________________ ______________________

Mr. Jon Doe (DONOR) Ms/Mrs. James Doe (DONEE)



The deed need not be registered, it needs to be signed by both the donor and donee and ofcourse notarized as it makes the document authentic. I'm not very sure about the dates to be honest but one thing you have to make sure of is that the funds are transferred after the deed has been made.
For instance, if the gift deed is dated 25th July 2019 and the funds were transferred on 12th July 2019, then that looks suspicious as the funds were received way before the gift was even drafted,so try and avoid that. But ofcourse, if the gift deed is made on 25th July 2019 and funds are transferred on the same day or after this date, its okay!

 

[Harsha009]

Hi there,
I'm guessing you must've already sorted your query as this was posted a year ago but I am still repyling, in the hopes that someone else might find it beneficial.
This is the format of the gift deed that I used. A friend of mine used the same format and received his PR, I am awaiting mine. Please note that this is not an official format. It's just something that worked and it covers all points that the CIC mentions.

GIFT DEED

Between:

1) Jon Doe - Donor
2) James Doe - Donee


1. Mr. Jon Doe, (mother/father of James Doe) aged xx, resident of xxxxxxxx, hereby solemnly says and declares the following:

a) Out of my mutual love and affection that I bear towards my daughter/son James Doe (Passport no. xxxxx), I made an absolute gift of Rs. xxxx, vide online transfer, Transaction Reference no. – xxxxx, from my account no. – xxxxxx, address of bank on xx/xx/xxxx to James Doe's account no.- xxxxx, address of bank
(the transfer can also be through cheque, in which case add the cheque number and address of bank)

b) Furthermore, I declare that in the gift of Rs. xxxxxx, made by me to my daughter/son James Doe, I hold no share, right, title or interest possession, benefit claim or demand into or upon the sum and the gift is irrevocable. My daughter/son, James Doe is the absolute owner thereof and is free to utilize it in any manner.


2. James Doe, the donee named above says and declares the following:

a) The aforesaid gift of Rs. xxxxxxx, has been accepted by me.


b) I say that, since the making of the said gift and my acceptance thereof, I am the absolute owner of the said sum of Rs. xxxxxx and Mr. Jon Doe since then has no share, right, title or interest possession, benefit claim or demand of whatsoever nature on the said sum of Rs. xxxxxx



This Gift Deed is effective from xx/xx/xxx, from the date Mr. Jon Doe transferred the said sum to James Doe's account.




________________________ ______________________

Mr. Jon Doe (DONOR) Ms/Mrs. James Doe (DONEE)



The deed need not be registered, it needs to be signed by both the donor and donee and ofcourse notarized as it makes the document authentic. I'm not very sure about the dates to be honest but one thing you have to make sure of is that the funds are transferred after the deed has been made.
For instance, if the gift deed is dated 25th July 2019 and the funds were transferred on 12th July 2019, then that looks suspicious as the funds were received way before the gift was even drafted,so try and avoid that. But ofcourse, if the gift deed is made on 25th July 2019 and funds are transferred on the same day or after this date, its okay!

Is it really required for the gift deed to be taken before the actual transfer ? my dad has put the money not at once but in a span of two months he made sure he has deposited the money..so I have taken gift deed after depositing everything..how does it look suspicious ?

 

[ZebaAli12]

Hi there,
I'm guessing you must've already sorted your query as this was posted a year ago but I am still repyling, in the hopes that someone else might find it beneficial.
This is the format of the gift deed that I used. A friend of mine used the same format and received his PR, I am awaiting mine. Please note that this is not an official format. It's just something that worked and it covers all points that the CIC mentions.

GIFT DEED

Between:

1) Jon Doe - Donor
2) James Doe - Donee


1. Mr. Jon Doe, (mother/father of James Doe) aged xx, resident of xxxxxxxx, hereby solemnly says and declares the following:

a) Out of my mutual love and affection that I bear towards my daughter/son James Doe (Passport no. xxxxx), I made an absolute gift of Rs. xxxx, vide online transfer, Transaction Reference no. – xxxxx, from my account no. – xxxxxx, address of bank on xx/xx/xxxx to James Doe's account no.- xxxxx, address of bank
(the transfer can also be through cheque, in which case add the cheque number and address of bank)

b) Furthermore, I declare that in the gift of Rs. xxxxxx, made by me to my daughter/son James Doe, I hold no share, right, title or interest possession, benefit claim or demand into or upon the sum and the gift is irrevocable. My daughter/son, James Doe is the absolute owner thereof and is free to utilize it in any manner.


2. James Doe, the donee named above says and declares the following:

a) The aforesaid gift of Rs. xxxxxxx, has been accepted by me.


b) I say that, since the making of the said gift and my acceptance thereof, I am the absolute owner of the said sum of Rs. xxxxxx and Mr. Jon Doe since then has no share, right, title or interest possession, benefit claim or demand of whatsoever nature on the said sum of Rs. xxxxxx



This Gift Deed is effective from xx/xx/xxx, from the date Mr. Jon Doe transferred the said sum to James Doe's account.




________________________ ______________________

Mr. Jon Doe (DONOR) Ms/Mrs. James Doe (DONEE)



The deed need not be registered, it needs to be signed by both the donor and donee and ofcourse notarized as it makes the document authentic. I'm not very sure about the dates to be honest but one thing you have to make sure of is that the funds are transferred after the deed has been made.
For instance, if the gift deed is dated 25th July 2019 and the funds were transferred on 12th July 2019, then that looks suspicious as the funds were received way before the gift was even drafted,so try and avoid that. But ofcourse, if the gift deed is made on 25th July 2019 and funds are transferred on the same day or after this date, its okay!

What if the gift is in form of cash?

 

[Vinshr]

Hi there,
I'm guessing you must've already sorted your query as this was posted a year ago but I am still repyling, in the hopes that someone else might find it beneficial.
This is the format of the gift deed that I used. A friend of mine used the same format and received his PR, I am awaiting mine. Please note that this is not an official format. It's just something that worked and it covers all points that the CIC mentions.

GIFT DEED

Between:

1) Jon Doe - Donor
2) James Doe - Donee


1. Mr. Jon Doe, (mother/father of James Doe) aged xx, resident of xxxxxxxx, hereby solemnly says and declares the following:

a) Out of my mutual love and affection that I bear towards my daughter/son James Doe (Passport no. xxxxx), I made an absolute gift of Rs. xxxx, vide online transfer, Transaction Reference no. – xxxxx, from my account no. – xxxxxx, address of bank on xx/xx/xxxx to James Doe's account no.- xxxxx, address of bank
(the transfer can also be through cheque, in which case add the cheque number and address of bank)

b) Furthermore, I declare that in the gift of Rs. xxxxxx, made by me to my daughter/son James Doe, I hold no share, right, title or interest possession, benefit claim or demand into or upon the sum and the gift is irrevocable. My daughter/son, James Doe is the absolute owner thereof and is free to utilize it in any manner.


2. James Doe, the donee named above says and declares the following:

a) The aforesaid gift of Rs. xxxxxxx, has been accepted by me.


b) I say that, since the making of the said gift and my acceptance thereof, I am the absolute owner of the said sum of Rs. xxxxxx and Mr. Jon Doe since then has no share, right, title or interest possession, benefit claim or demand of whatsoever nature on the said sum of Rs. xxxxxx



This Gift Deed is effective from xx/xx/xxx, from the date Mr. Jon Doe transferred the said sum to James Doe's account.




________________________ ______________________

Mr. Jon Doe (DONOR) Ms/Mrs. James Doe (DONEE)



The deed need not be registered, it needs to be signed by both the donor and donee and ofcourse notarized as it makes the document authentic. I'm not very sure about the dates to be honest but one thing you have to make sure of is that the funds are transferred after the deed has been made.
For instance, if the gift deed is dated 25th July 2019 and the funds were transferred on 12th July 2019, then that looks suspicious as the funds were received way before the gift was even drafted,so try and avoid that. But ofcourse, if the gift deed is made on 25th July 2019 and funds are transferred on the same day or after this date, its okay!

Is it ok to take gift deed from my father in law? I will be making a letter of explanation as well.

 

[steaky]

Is it ok to take gift deed from my father in law? I will be making a letter of explanation as well.

You can ask yourself the same if you have a (or in the future) a son/daughter in law, in which you are willing to gift some or all of your assets.

 

[datguyforcanada]

Anybody here know if gift deed (let's say from father) needs to be accompanied by bank statement from father's account as well? Or just the gift deed itself?