Introduction:
In Pakistan, the process of gifting property is governed by the Transfer of Property Act, 1882, which outlines the legal framework for transferring immovable assets such as land, buildings, and houses. One of the essential steps in gifting property is the creation of a Gift Deed and its subsequent registration. This blog will walk you through the process of filing a Gift Deed and the steps involved in registering it in Pakistan.
What is a Gift Deed?
A Gift Deed is a legal document that transfers the ownership of property from one person (the donor) to another (the donee) without any exchange of money. It is an act of giving a gift voluntarily and without any consideration. To make a Gift Deed legally binding, it must meet specific legal requirements and be registered with the relevant authorities.
The Gift Deed Registration Process in Pakistan:
1. Drafting the Gift Deed:
The first step in gifting property is drafting a comprehensive Gift Deed. The Gift Deed should include essential details such as the names and addresses of the donor and the donee, a description of the property being gifted, and the date of the gift. It should also clearly state the donor’s intention to gift the property without any consideration.
2. Stamp Duty Payment:
Once the Gift Deed is prepared, you must pay the applicable stamp duty. Stamp duty rates vary from province to province in Pakistan. You can find information about the stamp duty rates on the relevant provincial government’s website or consult a legal expert for guidance.
3. Notarization:
The Gift Deed must be executed on a non-judicial stamp paper of the appropriate value, and both the donor and the donee must sign the document in the presence of a notary public. The notary public will attest to the signatures and confirm the identity of the parties involved.
4. Registering the Gift Deed:
After notarization, the Gift Deed must be registered with the local sub-registrar’s office or the relevant authority in your province. In Pakistan, property registration falls under the jurisdiction of the respective provincial authorities.
Here’s a general overview of the steps involved in registering a Gift Deed:
a. Visit the local sub-registrar’s office or the relevant authority responsible for property registration.
b. Submit the stamped and notarized Gift Deed along with two witnesses who can attest to the identities of the parties involved.
c. Pay the registration fee, which varies depending on the value of the gifted property.
d. The sub-registrar or the designated authority will review the Gift Deed and related documents. If everything is in order, they will approve and register the Gift Deed.
5. Obtaining Certified Copies:
Once the Gift Deed is registered, you should obtain certified copies of the registered document. These copies serve as proof of ownership transfer and should be kept in a safe place for future reference.
6. Mutation of Property Records:
To complete the transfer of ownership, you must apply for the mutation of property records in the name of the donee. This process involves updating the land revenue records to reflect the new owner. You’ll need to submit the certified copies of the Gift Deed and other required documents to the relevant revenue authorities.
Conclusion:
Filing a Gift Deed and registering it in Pakistan is a legal process that involves several steps. It’s crucial to follow these steps meticulously to ensure the smooth and lawful transfer of property ownership. Consulting with a legal expert or a qualified attorney is advisable to navigate the complex legal requirements and ensure that all necessary documents are in order. By following the proper procedures and complying with the applicable laws, you can successfully gift property in Pakistan and avoid any potential legal complications in the future.