Deeds & Documents
now browsing by category
A gift deed is a deed in which the consideration is not monetary, but is made in return for love and affection. It is a document which transfers property to another as a gift. It is the transfer of certain existing moveable or immoveable property by one person to another and WITHOUT CONSIDERATION THAT IS, ‘PAYMENT’ OR A ‘PRICE’ and is made in return for love and affection. The person transferring the property is called the donor. The person to whom the property is transferred is referred to as the donee. The donee must accept the property during the lifetime of the donor and while he is still capable of giving . In case the donee dies before acceptance , the gift is void. The gift can be effected through a gift deed.
REGISTRATION OF GIFT DEED:
A “WILL” can be defined as “A legal statement written by an individual, stating the manner in which his or her wealth may be distributed after his or her demise.” A person making a Will is known as a “TESTATOR”.
A Will after death of person, reduces the confusion of sharing property amongst the family members and relatives.
In case a person dies without making a Will, he/she is said to have died intestate. His/her property shall be inherited to his/her legal heirs in accordance with the personal law applicable to him/her i.e. either The Hindu Succession Act, 1956, The Indian Succession Act, 1925, un-codified law of Muslims, Parsis etc.
Definitions in relation to preparation of a WILL: Read More…
A Leave and License agreement is an agreement made when a certain residential property is given on rent.
So why not prepare a rent agreement and why a leave and license agreement?
A rental agreement is also known as a lease agreement and in a RENTAL AGREEMENT THERE IS TRANSFER OF INTEREST IN THE PROPERTY from the person who owns it to the person who is leasing it.
However in a LEAVE AND LICENSE AGREEMENT there is no transfer of interest, it is only GRANTING OF PERMISSION to the other party to stay in our house for a specific period of time on the terms and conditions mentioned in the agreement.
That is why whenever any property is given on rent we prepare a Leave and License Agreement and not a Rental Agreement.
Following clauses should be mentioned while drafting a Leave and License Agreement: Read More…