Property Gift Deed
Property Gift Deed
This Deed of Gift is made on July 18, 2050 between [Parents' Names], hereinafter referred to as the "Donors," of [Parents' Address], and [Your Name], hereinafter referred to as the "Recipient," of [Your Company Address].
WHEREAS, the Donors are the absolute owners of a spacious three-bedroom house, situated at 123 Main Street, Anytown, USA, hereinafter referred to as the "Property";
AND WHEREAS, the Donors wish to gift the said Property to the Recipient out of love and affection;
NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Donors hereby irrevocably gift and convey the Property unto the Recipient, his/her heirs, executors, administrators, and assigns, to hold the same unto the Recipient absolutely and forever.
I. Acceptance
The beneficiary, expressing profound gratitude and heartfelt appreciation, hereby formally acknowledges and accepts the generous bequest bestowed upon them. This significant gift, encompassing the Property, is received with utmost reverence and gratitude. The beneficiary hereby solemnly recognizes and acknowledges the thoughtful and substantial contribution made to them.
II. Indemnification
The Recipient agrees to indemnify and hold harmless the Donors from and against any and all claims, demands, liabilities, losses, damages, costs, and expenses (including reasonable attorney's fees) arising out of or relating to the ownership, possession, or use of the Property.
III. Taxes and Expenses
From the date of this Deed moving forward, the Recipient will bear exclusive responsibility for all taxes, fees, charges, assessments, and any other expenses whatsoever that are associated with the Property.
IV. Severability
Should any specific provision of this Deed be determined to be invalid or unenforceable by a court of competent jurisdiction, all other provisions contained herein will continue to be valid and enforceable and shall maintain their full force and effect.
V. Governing Law
This Deed shall be governed by and construed in accordance with the laws of [State/Country], without regard to its conflicts of laws principles.
VI. Signatures
[Parents' Names]
[Date Signed]
[Your Name]
[Date Signed]
VII. Witnesses
This Property Gift Deed 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]
