When we talk about gifts we generally think of inconsequential things like a chocolate or a dress, or even jewelry. But there can be much bigger gifts like property or house or car which are not inconsequential in any way and there have to be legal papers supporting the transfer of ownership of such things that are really costly. Therefore, a deed of gift is drawn up which is essentially a document which allows a person to transfer a property or a valuable asset to another person whom he or she chooses. As is clear by now, there are generally two people who are involved in this transaction. The person who is gifting is termed as the “donee” and the person who is receiving is termed as the “donor”. A donee must accept the gift during the lifetime of the donor, and the same goes for the donee as well, as he or she needs to gift the item during the lifetime of the donee. This is something which cannot be done posthumously. In case one of the parties dies, the gift becomes null and void. It is also to be kept in mind that a donee must be the legal owner of the property or asset that he is planning to gift otherwise there can be legal hassles afterward. Also, the gift must be a tangible existing property, and one cannot gift something which he or she plans to acquire in the future. This is a summary of what gifting property is Hawaii is all about.
The gift or the right of ownership of an asset or a property is done without any monitory transaction taking place. The donee does not require paying for the gift or the right of ownership and neither any other return transaction is required as in a return gift in layman’s term. In the gifting property in Hawaii deed it should also be explicitly mentioned that the donee is not bound to extend any service or do any work in return for receiving the gift. It is by the dint of the document alone that the donee is supposed to receive the gift which again should be unconditionally gifted by the donor. By unconditional, it is meant, that the donor should not be coerced, forced or promised something falsely for gifting away the asset or property. He or she should gift it on free will and voluntarily without any pressure from any source whatsoever. It is generally affection, love, gratitude, and some other emotional tie that is involved in such kinds of gift and any other reason is generally unacceptable.
There should be valid witnesses when such deeds for gifting property in Hawaii are made. As per the requirement, the number of witnesses required to sign the gift may vary. It is generally two witnesses that are required while this deed is being signed. Additionally, the witnesses that are supposed to be there at the time of signing the deed should be objective parties, that is, they should not be involved or interested in the properties or assets being gifted in any way. There is no chance of anyone being a witness if he or she stands the chance to benefit from such a transfer of assets or properties. Further, a gift can be irrevocable or revocable. The draft of the document can be prepared in a specific way when the deed of gift is intended to be revocable. If the donor decides to revoke the gift, he can do so, and the document which has been already signed and witnessed is not an obstruction.
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