REGISTRATION OF A DONATION (DONATION AGREEMENT)

Registration of a donation (donation agreement) is an important legal document regulating the transfer of property or other rights from the donor to the donee without any remuneration.

In this article, we will consider the legal features of a donation agreement, the procedure for its execution, the necessary list of documents for its execution, as well as the possibility of terminating the agreement.

What are the legal features of a donation agreement?

• Free transfer of property or other rights;
• Voluntariness and freedom to conclude a gift agreement;
• Mandatory written form of the donation agreement (except when the law allows such an agreement to be concluded in a non-written form);
• It is obligatory to have details in the text of the donation agreement;
• After the conclusion of the gift agreement, property or other rights are transferred to the donee.

What is the procedure for making a donation agreement?

The donation agreement is drawn up in writing and drawn up according to the procedure:

1. Determination of the parties to the contract – the donor and the gifted.
2. Determination of the subject of donation – property or other rights transferred from the donor to the donee.
3. Determining the conditions for the transfer of property or other rights – usually the transfer occurs on the basis of a donation agreement, but other conditions can also be determined, for example, the condition of preserving property until a certain point.
4. Establishment of the term for the transfer of property or other rights – the terms of the term for the transfer of property or other rights may be determined in the donation agreement. Such terms may depend on various conditions, for example, they may be determined after the payment of taxes and fees, obtaining the necessary permits, performing certain actions, etc.
5. Transfer of property or other rights – the transfer of property or other rights usually occurs through an act of acceptance and transfer of property or other rights. The act may indicate the conditions for the transfer, for example, the state of the property at the time of the transfer, the availability of all necessary documents, information on obtaining the consent of all interested parties, etc.
6. Taxes and Fees – Certain taxes and fees may apply when granting property or other rights. This usually depends on the value of the transferred property and rights.
7. Determining the liability of the parties – in case of violation of the terms of the donation agreement, the parties bear responsibility determined by the terms of the agreement.
8. Signing the donation agreement by the parties – each of the parties to the agreement must sign a document confirming their agreement with the terms of the donation. After signing the contract, each party must receive its own copy of the document.

What documents are required to draw up a donation agreement?

The following documents are required to complete a donation agreement:

• Passport and identification code of the donor and the donee – to confirm the identity.
• A document confirming the ownership of property or other rights transferred from the donor to the donee. For example, if real estate is donated, then such a document may be a certificate of ownership.
• donation agreement.
• Other documents that may be required in a particular case, such as a certificate of no debts at the time of the conclusion of the contract.

An exact list of documents can be obtained from the notary during the consultation and after studying each particular case.

Termination of the donation agreement

The donation agreement can be terminated under certain conditions. In particular, a donation agreement may be terminated by agreement of the parties or at the initiative of one of the parties if there are objective grounds. For example, if the gifted person does not fulfill the terms of the contract.

In the event of termination of the donation contract, the property or other rights shall be returned to the donor. Also, the contract may establish compensation for damage caused by the parties in connection with the termination of the contract.

If you have any questions about the preparation (execution) of a donation agreement, please contact the law office “Prikhodko and Partners”.

We provide qualified and prompt legal assistance to our clients, observing high professional standards and ethical norms, as well as representing interests in courts of any instance.

Therefore, you can be sure that your legal issues will be successfully resolved with the Law Office “Prikhodko and Partners”.