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IRREVOCABLE INTER VIVOSDEED OF GIFTFROM: __________TO: __________
THIS IS an irrevocable inter vivos Deed of Gift given by me, __________, of __________, Alberta, Canada. My purpose in completing this document is to give effect to my wishes regarding gifts I wish to make during my lifetime to family and friends. To that end, I provide as follows:
In witness of this irrevocable inter vivos Deed of Gift encompassing four pages I have subscribed my name in __________, Alberta, Canada this ___ day of ______________________, _______.
SIGNED, PUBLISHED AND DECLARED under seal be the above named __________ as and for his or her irrevocable inter vivos Deed of Gift in the presence of us both present at the same time, who at his or her request, in his or her presence, and in the presence of each other, have hereunto subscribed our names as witnesses.
Last Updated January 7, 2025
A Gift Deed is a legal document used to formally give a sum of money or transfer ownership of property to another person or organization. Using a Gift Deed means that the transfer is gratuitous: the donor (the person giving the gift) does so without any conditions, and with no expectation of future compensation.
A Gift Deed is also known as:
A Gift Deed can be revocable or irrevocable.
A revocable Gift Deed lets the donor cancel the gift at any time before the gift is delivered to the recipient. Even if you give a revocable Gift Deed to your intended recipient, you are under no legal obligation to hand over the gift. However, once the gift has been passed to the recipient, the donor can no longer take it back.
An irrevocable Gift Deed is legally binding as soon as the donor gives the Gift Deed to the recipient. In this instance, you cannot revoke the gift; you have a legal obligation to give the money or item to the recipient. However, the recipient doesn’t receive possession of the gift immediately. LawDepot’s irrevocable Gift Deed requires the assets go into a trust, and the appointed agent in the Gift Deed ensures it reaches the recipient once the donor loses capacity or passes away.
Money or items listed in an irrevocable Gift Deed are no longer considered to be part of your personal estate. An irrevocable Gift Deed can be used to keep certain items from being contested in your Last Will and Testament.
A donor using LawDepot’s Gift Deed must specify someone to act as their agent. The agent ensures that the money or item listed in the deed of gift is delivered to the recipient of the gift.
Here are some situations where you could use a Gift Deed:
Charitable Gift: You may decide you want to give a significant cash donation to a charitable cause, or give them an item of value which they can sell or auction for money. Or, you may want to transfer ownership of a relevant antique object to a non-profit museum or preservation society. A Gift Deed enables you to officially document your contribution.
Family Heirlooms: It can be more satisfying to transfer ownership of a treasured family heirloom while both the giver and recipient are still alive, rather than having the item bequeathed in a Last Will and Testament. You could use a Gift Deed in this instance to make your gift of a family heirloom more memorable for you and your loved one.
Pre-Estate Bequest: With an irrevocable Gift Deed, the money or items listed in the document are no longer considered to be part of your estate. An irrevocable Gift Deed can potentially keep a specific item from being contested in your Last Will and Testament.
Sample
Gift Deed
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