What is a deed of gift?

A deed of gift is a legal document that is used to transfer ownership of property from one person to another as a gift. In Massachusetts, a deed of gift must be acknowledged by the donor and donee, in writing, in front of two witnesses and a Notary Public. It must provide detailed information about the property being transferred, such as the property’s description, its estimated value, and the name of the donor and donee. Once the deed is signed, it must be recorded with the Registry of Deeds in the county where the property is located. This process creates a public record and ensures that the gift is legally binding. When a deed of gift is used, the donor no longer has any ownership rights to the property. The donee has full ownership and can do with it as they please. It is important to note that the donor may still be responsible for paying any past-due taxes or other debts associated with the property. Though a deed of gift is a relatively simple document, it is important to consult a lawyer before creating one. This is because the transfer of ownership is legally binding and could have serious, long-term consequences.

Related FAQs

What is partition of property?
What is a deed of distribution?
What is a dower?
What rights does a tenant have under a lease?
What is the doctrine of fixtures?
What are the various types of restrictive covenants?
What is a negative servitude?
What is a deed of partition?
What are real estate taxes?
What is an accession?

What is a deed of gift?

Related FAQs

Related Blog Posts