what is gift deed for property transfer in telugu|gift written registration process

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GIFT DEED & REGISTRATION OF GIFT DEED DETAILS.
What is a Gift Deed ?
Who can transfer the gift deed?
Process of Gift deed registration and charges of registration calculation?
Gift deed is a transfer of property from one person to another person without consideration, where there is no money or no any other exchange in return.
Property transfer is of 2 types.
1. Movable property
2. Immovable property
In brief : 1.Movable property are those property which are of easily exchanged on hands like money, valuable ornaments or gold, etc..
2.Immovable property are those which are attached to earth like land, house and buildings, etc.
Who can transfer the gift deed /who can transfer his property as gift?
The person who is the true and real owner of that property can transfer the property ,the property which is being transferred can be a self acquired property or which he might have received through a will or gift deed and it is registered on his name only that property he can transfer to someone else on the base of love and affection , respect /favour, etc.
Only his share of the property he can transfer but not the others share of property.
The property which is registered on our name that property only we can transfer to another person.
Who has to do the registration of the gifted property, the property which is to be transferred?
The person who is transferring the property has to do the registration of the transferring property that is the gifting property has to get registered by the present owner to the name of the future owner , the person who is receiving the property on his name this property has to be registered by the Donor as he is gifting this property to the Donee.
If that property has so many people share on it in the future then you must do the registration on the name of a person to whom you want to gift the property. To avoid problems regarding the ownership of that property registration is important.
Can we cancel/revoke the gift deed which we have transferred?
No,we cannot cancel the gifted property gift deed once the process gets completed,after the property transferd to the name of other person we cannot cancel the gift deed. Only if it is in the process of transferring and not yet transferred that gift deed can be cancelled.
After the registration of the gift deed the new owner acquires the ownership on that property and he gets all the rights on the property as he can use the property as per his wish if he wants to sell it or he wants to enjoy that property that is up to his will/wish.
The process of writing a gift deed
First heading as GIFT DEED.
2.Parties, their age and their address.
3. Gifting property details where is the property is located and how much it is, to whom we are transferring and how much of share we are transferring.
4. Reason for transferring the property like on what reasons we are transferring the property through love , affection respect or favour, etc has to be mentioned very clearly. If it is not mentioned clearly then at the sub-registrar office they may reject the gift deed. So need to mention very clearly.
5. Name and signatures of the parties and along with 2 witnessess.
If the witnesses are female then they have to mention their husbands name also.
6. Registration at the sub-registrar office is important.
7. if the gift of property to a Blood relation then it’s registration charges will be applicable to son/ daughter like the stamp duty, the market value is 1%. Transfer duty fee and registration fee.
8. if the gift of property to a Non Blood relation then it’s registration charges will be applicable like the stamp duty, the market value is 5%. Transfer duty fee and registration fee.
(1) A “GIFT INTER VIVOS” means, A gift made between two living persons. It is a transfer of certain existing movable and immovable property made voluntarily and without the consideration , by one person, called “DONOR”, to the another called “DONEE’, accepted by or on behalf of the DONEE
(2)Where a gift is in the form of a single transfer to the same person of several things of which one is and the others are
(3)Where a gift consists of the DONOR’S whole property .
UNIVERSAL DONEE: (Sec -127) :
The DONEE is personally liable for all the debts due by and liabilities of the donor at the time of the gift to the extent of the property comprised therein ( Sec-128).
HE is a person to whom the entire properties of the donor are given.
sowjanya advocate