Gift Deed

Deed for which Consideration is love and affection, and no material consideration is involved.

A Deed for which Consideration is love and affection and no material consideration is involved.Example: Abel, who is on the brink of Bankruptcy, Executes a gift deed to his wife. Since there is no consideration and the apparent reason for the transfer was to remove the property from the reach of Abel's creditors, the deed might not be valid. In other situations the gift deed would be upheld.

Fig. 87. Georgian-Style House