CS Professional · Drafting, Pleadings and Appearances · Types of Documents
Anil and Bhavna sign a deed in which Anil gives his flat to Bhavna out of natural love, with no payment, and Bhavna accepts it during Anil's lifetime. The drafter should describe the instrument as:
It is a gift deed. A gift is a voluntary transfer of property without consideration, made in the donor's lifetime and accepted by the donee. A will takes effect only after death, and a sale requires a price, so neither fits this fact pattern.
- AA release deed with consideration of Rs 1
- BA gift deed, which needs no monetary consideration but requires acceptance by the doneeCorrect
- CA sale deed at nominal value
- DA will, because it is voluntary
Explanation
A gift is a voluntary transfer without consideration, made during the donor's lifetime and accepted by the donee. The deed is therefore a gift deed. A will operates only after death, so it is wrong even though it is voluntary. A sale requires price.
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