Deed Of Gift
Deed Of Gift
This Deed of Gift ("Deed") is made and entered into this 19th day of June, 2050, by and between [Your Name], the GIFTOR, residing at [Your Company Address], and the RECIPIENT, [Recipient Name], residing at [Recipient Address].
WHEREAS:
The Giftor is the legal owner of certain property or assets described below.
The Recipient is a family member of the Giftor.
The Giftor desires to transfer ownership of the property or assets to the Recipient without compensation.
NOW, THEREFORE, in consideration of the mutual agreements contained herein, the parties agree as follows:
I. Transfer of Property
The Giftor does hereby give, transfer, and convey to the Recipient, without reservation, all rights, title, and interest in and to the following property or assets (the "Property"):
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Description of the Property: A residential property located at 456 Birch Lane, Springfield, IL 62701, including the land, buildings, and fixtures. The property has a total area of 2,500 square feet and is registered under tax identification number 123456789.
II. Consideration
This gift is made with no expectation of any payment or consideration in return. The Giftor confirms that this transfer is a gratuitous act of love, affection, or familial bond.
III. Conditions of Transfer
The Giftor warrants that the Property is transferred free and clear of any liens, encumbrances, or claims. The Giftor has full authority to make this transfer, and no other person has any claim to the Property.
IV. Acceptance by Recipient
The Recipient hereby accepts the transfer of the Property and agrees to assume ownership and any associated responsibilities, including, but not limited to, taxes, insurance, and maintenance.
V. Governing Law
This Deed shall be governed by and construed by the laws of the State of [State], without regard to its conflict of laws principles.
VI. Entire Agreement
This Deed constitutes the entire agreement between the parties concerning the transfer of the Property. It supersedes all prior agreements or understandings, whether written or oral, relating to such transfer.
VII. Severability
If any provision of this Deed is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Deed of Gift on the day and year first above written.
[Your Name]
[Date Signed]
[Recipient Name]
[Date Signed]
VIII. Witnesses
This Deed of Gift is witnessed and signed on the day and the year first above written.
[WITNESS 1 NAME]
[DATE SIGNED]
[WITNESS 2 NAME]
[DATE SIGNED]
NOTARIZATION:
State of [STATE], County of [COUNTY]
On this [DATE], before me, a Notary Public in and for said county and state, personally appeared [Your Name], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
[NOTARY PUBLIC NAME]
Notary Public in and for [STATE]
My Commission Expires: [EXPIRATION DATE]
