A Gift Deed is a legal document used to transfer ownership of property from one person to another without any monetary exchange. This is commonly used for gifting property to family members.

Key Features:
-Must be executed voluntarily without any coercion.
-Needs to be registered with the sub-registrar’s office.
-Once registered, the transfer is irrevocable.
-No tax liability for close relatives, but may attract stamp duty in some cases.