In real estate, a Gift Deed is a deed used to transfer ownership of property from a donor to a donee without any consideration, meaning no money or other value is exchanged. The transfer is made voluntarily as a gift.
Although no consideration is involved, a gift deed must still meet all legal requirements for a valid conveyance, including proper execution, delivery, and acceptance. Gift deeds may also have tax and legal implications and do not remove existing liens or encumbrances on the property unless they are separately satisfied.
