Gift is a sign of love and reverence. Any individual seals his affection in the image of an inanimate object and presents it to a beloved. The act is laden with emotions without having any conditions attached to it. In case of gifting a property or extending a part of savings, certain legalities and exemptions are a part of the story.
Every legislature around the world has formulated stringent laws in order to record the transfer and fortify it against any irregularity or misuse. The deeds to be prepared, tax to be filed or proceedings to be represented in the court of law requires the expertise of a legal specialist- a gift law attorney, one who takes your litigations in his stride and allows you to cherish the gift at ease.
The integral elements that the law takes in its ambit are:
(1 )Donor
(2) Donee
(3) The gift
(4) The document of Transfer
(5) The acceptance
(6) Exemptions
(7) The legal documentation
Comprising special considerations as well as demarcating the role and conditionality of the above sections, gift law has been framed with the essence of goodwill, guaranteeing security of the transfer. A gift law attorney takes responsibility to make this process a smooth sail.
This voluntary act of considering someone worthy or deserving of receiving an asset of not only emotional, but also high economic value, demands safeguards beyond our fathomable senses in order to avoid any dispute at a point of time in future. So, seeking association of a lawyer works to the benefit of a commoner.