A Gift Deed is a legal document used to transfer ownership of property or assets from one person (the donor) to another (the donee) without any exchange of money. This document outlines the details of the gift, including the description of the property, the names of the donor and the donee, and any conditions or terms associated with the gift. Once signed and executed, a Gift Deed becomes irrevocable, meaning that the donor cannot take back the gift unless there are exceptional circumstances such as fraud or undue influence. It is crucial to ensure that the Gift Deed complies with all legal requirements, including proper documentation and registration, to validate the transfer of ownership and prevent future disputes. Consulting with a legal professional is advisable to draft and execute a Gift Deed accurately.