Free Gift Deed

Answer a few simple questions Print and download instantly It takes just 5 minutes

Create Your Free Gift Deed

  1. Answer a few simple questions
  2. Email, download or print instantly
  3. Just takes 5 minutes

Gift Deed

Create your Free Gift Deed


Create your Free Gift Deed

Do you want to be able to revoke this gift?
A Gift Deed is useful for giving delayed gifts.


BackCreate My Document
Frequently Asked Questions
When should I use a gift deed?You should use a gift deed when you want proof that a gift is being made without payment required and without conditions attached. It is also useful for giving a gift that will be received at a later time.Can I use a gift deed to donate to charity?Yes. You can use a gift deed to donate property or make a monetary gift to a charity.What is a revocable gift?When you use a revocable gift deed you reserve the right to cancel the gift at any time before the property is transferred to the recipient.

A revocable gift counts towards the value of your estate. If you want to reduce the size of your estate for tax purposes then you should use an irrevocable gift.


Trustpilot

Your Gift Deed

Update Preview
This document preview is formatted to fit your mobile device. The formatting will change when printed or viewed on a desktop computer.
Gift Deed Page of
Page of
Page of















IRREVOCABLE INTER VIVOS

DEED OF GIFT

FROM: __________

TO:  __________


          THIS IS an irrevocable inter vivos Deed of Gift given by me, __________, of __________, Ohio, United States. My purpose in completing this document is to give effect to my wishes regarding gifts I wish to make during my lifetime to family and friends. To that end, I provide as follows:

  1. I REVOKE all prior dispositions of every kind previously made by me respecting the subject matter of this irrevocable Deed of Gift, whether by a previous Deed of Gift or contained in my Will.
  2. I APPOINT __________, of __________, Ohio, United States to carry out my instructions in this irrevocable Deed of Gift. If __________ has predeceased me, or declines to act as my Agent, or becomes incapable of completing his or her duties, then I appoint __________, of __________, Ohio, United States to be the Agent of this irrevocable Deed of Gift instead of __________, and I declare that the expression "Agent" wherever used throughout this irrevocable Deed of Gift means any alternate Agent.
  3. I GIVE to my Agent all of the property specified in this irrevocable Deed of Gift upon the following trusts:
    1. If I have died, or if I have lost contractual capacity, my Agent will transfer the following property to the respective donee, __________ of __________, Ohio, United States as soon as possible: $__________ United States Dollars.
    2. If __________ has predeceased me:
      1. if I am still living, ownership of the property specified will revert to me or my legal personal representative(s); or
      2. if I have died, the property will revert back to my estate and will be dealt with according to the provisions of my Last Will and Testament.
  4. I declare that, by delivering this irrevocable Deed of Gift to __________, I will be transferring legal ownership of the property to __________, even though I may continue to retain possession of the property. When I die or have lost contractual capacity, I direct my Agent to deliver the property to __________ for his or her own use free and clear of all claims that may exist at that time against me or my estate.
  5. In addition to any power conferred on my Agent by any statute or law, my Agent's powers will also include:
    1. without the consent of any person interested under my Last Will and Testament or other legal document, to make any agreement with any other person or corporation, and to compromise, settle or waive any claim or claims at any time and from time to time due to or by my estate in connection with the property referred to in this irrevocable Deed of Gift;
    2. to join in or take any action in connection with property held by my estate which forms the subject matter of this my irrevocable Deed of Gift, or to which my estate may be entitled, and to exercise any rights, powers and privileges which at any time may exist or arise in connection with such property;
    3. to do, on my behalf, any and all acts, which I could do if capable, subject to any conditions and restrictions contained herein and, without limiting the generality of the foregoing, to demand, recover and receive from all and every or any person or persons whosoever any investment or asset which forms the subject matter of this my irrevocable Deed of Gift. In the event that this irrevocable Deed of Gift is activated by my loss of mental capacity, my Agent shall have the authority to act as my litigation guardian, if one is required to commence, continue, defend or represent me in any Court proceeding concerning any investment or asset held by my estate, or to which I may be entitled, which forms the subject matter of this my irrevocable Deed of Gift;
    4. in the event that this irrevocable Deed of Gift becomes effective on my death, to join in or take any action in connection with any property held by my estate which forms the subject matter of this my irrevocable Deed of Gift to ensure that the same is withheld from any division, allocation or distribution of my estate, or of any part thereof, so as to prevent the said investment or asset from being deemed to fall into my residuary estate, and accordingly be subject to the rules of testamentary succession; and
    5. in case of any difference or dispute with any person or persons concerning the subject matter of this irrevocable Deed of Gift, to submit any such differences and disputes to arbitration or umpirage in such manner as my said Agent shall see fit.
  6. Any person acting as an Agent pursuant to this irrevocable Deed of Gift will be entitled to be reimbursed for all expenses incurred in doing so, and in the event that he or she wishes, will be entitled to be paid for his or her efforts in so doing, according to the usual scale of fees relating to such activities as if they had been carried out in the context of the administration of an estate, as it is not my intention that any person named as an Agent will be placed in a position where the discharge of his of her duties as an Agent causes him or her financial loss.
  7. The provisions of this irrevocable Deed of Gift and any disputes which may arise will be interpreted, construed or determined in accordance with the laws of Ohio.
  8. I indemnify and release my Agent from any liability which may result from his or her carrying out my instructions in this matter. I instruct any person acting on my behalf pursuant to a Power of Attorney, if I am still alive, or appointed pursuant to any testamentary document if I have died, to hold my Agent fully harmless out of the proceeds of my estate from all costs and expenses incurred by him or her in doing so.

    In witness of this irrevocable inter vivos Deed of Gift encompassing four pages I have subscribed my name in __________, Ohio, United States this  ___ day of ______________________, _______.

SIGNED, PUBLISHED AND DECLARED under seal be the above named __________ as and for his or her irrevocable inter vivos Deed of Gift in the presence of us both present at the same time, who at his or her request, in his or her presence, and in the presence of each other, have hereunto subscribed our names as witnesses.


___________________________________
__________

___________________________________
(First witness) 		___________________________________
(Second witness)
Question Help
Gift Deed Document Preview
Document PreviewAbout this Document

Last Updated April 11, 2024

Written by 

Kyle Adam
Kyle Adam, BComm
Kyle Adam

Kyle Adam is a seasoned content creator, editor, and SEO specialist with over four years of experience. Presently, he serves as Senior Marketing Writer and Editor at LawDepot. Holding a...

Full Bio
LawDepot's Editorial Policy

Reviewed by 

Ngaire King
Ngaire King, BA, JD
Ngaire King

Ngaire King is Legal Counsel for LawDepot. Ngaire has been working in the legal field for over five years and was called to the bar in Alberta in 2020. Before becoming a lawyer, Ngaire ...

Full Bio
LawDepot's Editorial Policy

|

Fact checked by 

Rebecca Koehn
Rebecca Koehn, BSc, MFA
Rebecca Koehn

Rebecca Koehn has been working in content creation and editing for over ten years and search engine optimization for over five years. Koehn is the Content Marketing Manager for LawDepot...

Full Bio
LawDepot's Editorial Policy


What is a Gift Deed?

A Gift Deed, or a Deed of Gift, is a document you use to give property, assets, or money to another party without receiving monetary consideration in return. Instead, you give something out of love and affection.

The primary purpose of a Gift Deed is to legally establish and document your intention to give something as a gift. Gift Deeds work for both immediate and delayed gifts.

Gift Deeds are also known as:

  • Deeds of Gift
  • Gift Agreements
  • Inter Vivos Gifts

Parties to a Gift Deed

The parties involved in a Gift Deed are as follows:

  • The donor is the person giving the gift.
  • The recipient (donee) is the person or charity receiving the gift.
  • The agent is the person who will act on the donor’s behalf to ensure the recipient gets the gift.

Note: LawDepot's Gift Deed template requires donors to appoint an agent.

What gifts can you transfer with a Gift Deed?

Generally, you can use a Gift Deed for the following types of gifts:

  • Real estate, such as residential or commercial properties or land
  • Financial securities, such as shares or stocks in a business
  • Personal property, such as vehicles, jewelry, art, furniture, or collectibles
  • Money

Types of Gift Deeds

There are multiple types of Gift Deeds, each with distinct qualities. Our template only creates inter vivos Gift Deeds, meaning gifts are given during the donor’s life.

Our template can accommodate revocable and irrevocable Gift Deeds. As their names suggest, here’s how they differ:

  • A revocable Gift Deed is one you can cancel in the future up until the gift is in the recipient’s possession.
  • An irrevocable Gift Deed can't be canceled or withdrawn.

Besides the types noted above, a Gift Deed can also be causa mortis, meaning it comes into effect after the donor’s passing. Our template doesn’t support causa mortis deeds.

How do revocable Gift Deeds work?

In LawDepot's revocable Gift Deed, the agent gives the gift and deed to the recipient on the same date the donor signs the deed. Legal ownership of the gift also passes to the recipient on this day.

To give the gift at a later date, wait to sign your revocable Gift Deed until you are ready to give the gift.

The donor may revoke the gift at any time until they pass away or lose contractual capacity. Once they pass away, the agent will transfer the gifted property to the recipient as soon as possible.

How do irrevocable Gift Deeds work?

With LawDepot's irrevocable Gift Deed, the gift goes into a trust.

By delivering the irrevocable Gift Deed to the recipient, the donor transfers legal ownership to the recipient, even though the donor may continue to retain possession of the property. Once the donor gives the document to the recipient, the donor cannot change their mind and reclaim the gift.

When the donor passes away or loses contractual capacity, the agent delivers the gifted property to the recipient.

Common situations for using a Gift Deed

Here are three common purposes and situations where Gift Deeds are used:

1. Gifting to loved ones

Families commonly use Gift Deeds to transfer real estate or assets. For example, parents or grandparents may use a Gift Deed to gift a family cabin to their children or grandchildren. Or, a mother may give her daughter specific valuables, such as jewelry, and document it with a Gift Deed.

2. Donating to charity

Some individuals use Gift Deeds to donate property or assets to charitable organizations or nonprofits. This can have tax benefits for the donor, such as deductions for charitable contributions.

3. Estate planning

Gift Deeds can be part of an individual's estate planning strategy. By gifting assets during their lifetime, individuals can reduce the size of their taxable estate, potentially lowering estate taxes.

Gifting assets during one's lifetime can help reduce potential inheritance disputes among heirs since the donor's intentions are clear.

Unlike a Will, assets transferred through a Gift Deed avoid the probate process. This means the gifts pass directly to the recipient without court involvement, speeding up the transfer process.

How to make a Gift Deed

The easiest way to create a Gift Deed is by using a template. After specifying whether or not the Gift Deed can be revoked, you’ll have to provide the following information:

  • A description of the gift, which should be as descriptive as possible and include any unique features or identifying information
  • Donor and recipient details, including their full names, cities, and states
  • First choice agent’s details, including their full names, cities, and states
  • Alternate agent’s details, including their full names, cities, and states

Gift Deed versus Quitclaim Deed

Here are the main differences between a Gift Deed and a Quitclaim Deed:

Gift Deed Quitclaim Deed
Transfers real estate, financial securities, personal property, or money Transfers real estate, financial securities, personal property, or money
Doesn’t involve monetary consideration Must involve monetary consideration, even if it’s $1.00
Gift tax may apply Transfer tax may apply
Revocable or irrevocable Irrevocable (unless a court determines undue influence)

Gift and Quitclaim Deeds don’t provide the recipient with any guarantee that the given property is outrightly owned by the owner.

Gift Deed versus Last Will

Here are the main differences between a Gift Deed and a Last Will and Testament:

Gift Deed Last Will and Testament
Transfers ownership of assets during one’s lifetime (unless it’s causa mortis) Transfers ownership of assets after death
Doesn’t go through the probate process Must go through the probate process
Revocable or irrevocable during the creator’s lifetime Revocable during the creator’s lifetime

One way Gift Deeds and Wills are similar is that they’re both irrevocable upon the creator’s death.

Is a Gift Deed legally binding?

Yes, a Gift Deed is a legally binding document if it’s properly signed and witnessed and it indicates the donor's intention to gift the property or asset without any exchange of money or valuable consideration.

Does a Gift Deed need to be witnessed and notarized?

Yes, you must sign your Gift Deed with two witnesses to ensure it’s enforceable. A witness must be a third party who isn’t benefitting in any way from the gift. For example, you should not use the gift recipient's spouse or children as witnesses.

A Gift Deed doesn’t need to be notarized for it to be legally binding. However, notarizing your Gift Deed can be an extra step that further validates your intention to give a gift.

Depending on local laws and the gift type, recording the Gift Deed with the appropriate government authority, such as the county recorder's office, may be necessary to provide public notice of the transfer.

Can a Gift Deed be canceled?

If a Gift Deed is revocable, then it can be canceled. If a Gift Deed is irrevocable, the donor cannot cancel it once they deliver the document to the recipient.

With LawDepot’s revocable Gift Deed template, we attach a Revocation of Inter Vivos Deed of Gift, which you can use whenever (and if ever) you need to revoke the gift.

Related documents

  • Quitclaim Deed: Transfer real estate interest without guaranteeing that the title is free from defects and encumbrances.
  • Warranty Deed: Transfer real estate interest to someone else and guarantee that the title is free from defects and encumbrances.
  • Last Will and Testament: Outline how you want your property and assets distributed after your passing.
  • Survivorship Deed: Create a joint tenancy between multiple people, where each person’s ownership interest goes to the surviving owner(s) when they pass away.
  • End-of-Life Plan: Outline your wishes for things like memorial services and how you want your remains to be handled when you pass away.
Thumbnail of Gift Deed document

Sample

Gift Deed

Personalize your Gift Deed form.

Print or download in minutes.

Create Your Gift Deed

Create your free Gift Deed in 10 minutes or less
Get Started
This document preview is formatted to fit your mobile device. The formatting will change when printed or viewed on a desktop computer.
Loading ...
Loading ...

Note: Your initial answers are saved automatically when you preview your document.
This screen can be used to save additional copies of your answers.