Monetary Deed Of Gift
Monetary Deed Of Gift
This Moneteray Deed of Gift is made and entered into on [Date], between [Your Name], hereinafter referred to as the "Donor", and [Recipient Name], hereinafter referred to as the "Recipient".
I. Background
The Donor, out of generosity and love for the Recipient, desires to gift a certain sum of money to assist the Recipient in pursuing their educational endeavors, acquiring a home, or establishing a business.
II. Agreement
In consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
2.1 Gift Amount
The Donor hereby irrevocably gifts the sum of two hundred thousand dollars ($200,000) to the Recipient.
2.2 Purpose
The gifted sum is intended to be utilized by the Recipient for the following purpose(s):
-
Educational expenses, including tuition, books, and related fees.
-
Acquisition of a residential property or down payment for a home.
-
Capital for starting or expanding a business venture.
2.3 Restrictions
This gift is made without any conditions or restrictions imposed by the Donor. The Recipient has full discretion over the utilization of the gifted amount, under the specified purpose(s) outlined in Section 2.
2.4 Delivery of Gift
The Donor shall transfer the gifted amount to the Recipient via bank transfer within seven (7) days of the execution of this Deed.
2.5 Tax Implications
The parties acknowledge and understand that the gift may have tax implications for both the Donor and the Recipient. It is the responsibility of each party to consult with their respective tax advisors regarding any tax consequences arising from this gift.
2.6 Governing Law
This Deed of Gift shall be governed by and construed under the laws of [State], without regard to its conflict of laws principles.
2.7 Entire Agreement
This Deed of Gift constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether oral or written.
III. Execution of Deed
IN WITNESS WHEREOF, the parties have executed this Deed of Gift as of the date first above written.
[Your Name]
[Date]
[Recipient Name]
[Date]
IV. Witnesses
This Deed of Exchange is witnessed and signed on the day and the year first above written.
[WITNESS 1 NAME]
[WITNESS 2 NAME]
