![]() ![]() ![]() Generally, real property is owned in either sole ownership or in co-ownership. Vesting describes how the grantee holds title to the property. Ambiguous language, or references to any type of consideration, can make the gift deed contestable in court.Ī lawful gift deed includes the grantor's full name and marital status, as well as the grantee's full name, marital status, vesting, and mailing address. It is important that a gift deed contain language that explicitly states that no consideration is expected or required. Often used to transfer property between family members or to transfer property as a charitable act or donation, these transfers occur during the grantor's lifetime. ![]() Gift deeds transfer title to real property from one party to another with no exchange of consideration, monetary or otherwise. ![]()
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