Gift Deed in Respect of Gift of Money

 

THIS DEED OF GIFT executed at __________, this ________ day of _________ Two Thousand and ___________ by A B C, of ___________, Indian Inhabitant, residing at _____________________________ _____________________________________, hereinafter called “THE DONOR” (which expression shall unless it be repugnant to the context or meaning thereof, mean and include his heirs, executors and administrators) of the One Part; AND P Q R, also of ___________, Indian Inhabitant, residing at ____________________________________ ________________, hereinafter called “THE DONEE” (which expression shall unless it be repugnant to the context or meaning thereof, mean and include his heirs, executors, administrators and Assigns) of the Other Part:

W H E R E A S:

(a)  The DONEE is the brother of the DONOR.

(b)  The Donor is absolutely possessed of large sum of money and which are his self acquired and/or owned property.

(c)  In consideration of natural love and affection which the DONOR bears towards the DONEE, the DONOR out of his own free will and accord was desirous of making a gift of
Rs. _______________/- (Rupees __________________ only) and which is duly gifted by Donor to the Donee in manner appearing hereinafter;

(d)  The DONEE has accepted the said gift by executing these presents in testimony hereof; and

(e)  The fact of the said gift is recorded herein.

 NOW THIS INDENTURE WITNESSETH THAT for effectuating the aforesaid desire and in consideration of natural love and affection which the DONOR bears towards his brother the DONEE, the DONOR doth hereby grant, transfer, convey and assign by way of gift a sum of Rs. ______________________/- (Rupees ____________________ only) as described in the Schedule hereunder written unto the DONEE TO HOLD the same unto and to the exclusive ownership and use of the DONEE forever absolutely AND the DONOR doth hereby represent, warrant and covenant with the DONEE THAT he the DONOR has good right, full power and absolute authority to pay and gift the said amount unto and to the use of the DONEE in the manner aforesaid AND IT IS DECLARED AND CONFIRMED THAT the DONEE has become the absolute owner of the said amount of Rs. _______________/- (Rupees __________________________________ only) and the Donor has ceased to have any beneficial right, title or interest in the same.

IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted of the said gift, have put their respective hands the day and year hereinabove written.

 SCHEDULE ABOVE REFERRED TO:

               (amounts paid by the Donor to the Donee by way of GIFT)

Sr.No         Date          Cheque No.        Drawn on               Amount

1

2

3

4

                                                                      Total

SIGNED AND DELIVERED by                              )

the within named A B C,                                   )

the DONOR above named,                                )

in the presence of                                           )

 

SIGNED AND DELIVERED by                              )

the within named X Y Z                                    )

the DONEE above named,                                )

in the presence of                                           )