Irrevocable Inter Vivos Deed Of Gift for Australia

Irrevocable Inter Vivos Deed Of Gift Template for Australia

A comprehensive legal document governed by Australian law that facilitates the immediate and irrevocable transfer of property or assets from a donor to a donee during the donor's lifetime. This deed creates a binding legal arrangement that cannot be revoked once executed, distinguishing it from other forms of gifts or transfers. It includes detailed specifications of the gifted property, warranties of ownership, clear transfer provisions, and may incorporate tax considerations and other relevant legal requirements specific to Australian federal and state jurisdictions.

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What is a Irrevocable Inter Vivos Deed Of Gift?

The Irrevocable Inter Vivos Deed of Gift is a specialized legal instrument used in Australian jurisdictions when a donor wishes to make an immediate, permanent, and irrevocable transfer of property or assets to a recipient during their lifetime. This document is particularly useful in estate planning, charitable giving, family wealth transfer, and tax planning scenarios. It differs from a will or testamentary gift as it takes effect immediately upon execution rather than upon death. The deed must comply with Australian federal and state laws, including property transfer regulations, tax legislation, and state-specific requirements. It typically includes comprehensive details about the gifted property, clear expressions of donative intent, warranties of ownership, and explicit statements about the gift's irrevocable nature.

What sections should be included in a Irrevocable Inter Vivos Deed Of Gift?

1. Parties: Identifies and defines the Donor (gift-giver) and Donee (gift-receiver) with full legal names and addresses

2. Background: Sets out the context of the gift and the relationship between parties

3. Definitions: Defines key terms used throughout the deed

4. Gift: Clearly describes the property being gifted and affirms the donor's legal ownership

5. Transfer: Establishes the immediate transfer of the gift from donor to donee

6. Donor's Warranties: Warranties regarding ownership, right to transfer, and freedom from encumbrances

7. Irrevocability: Explicitly states that the gift is irrevocable and cannot be recalled

8. Costs and Duties: Specifies who bears the costs of transfer and any applicable duties

9. Governing Law: Specifies that the deed is governed by Australian law

10. Execution: Format for proper execution of the deed by all parties

What sections are optional to include in a Irrevocable Inter Vivos Deed Of Gift?

1. Conditions Precedent: Used when the gift is subject to certain conditions being met before transfer

2. Tax Acknowledgments: Include when there are specific tax implications that need to be acknowledged

3. Third Party Consent: Required when the gift requires consent from other parties (e.g., mortgagee)

4. Maintenance Obligations: Used for gifts that require ongoing maintenance or care (e.g., artwork, animals)

5. Future Rights: Include when specifying any ongoing rights retained by the donor

6. Gift Registration: Required for gifts that need registration with authorities (e.g., vehicles, real property)

7. Family Law Acknowledgment: Include when the gift may have family law implications

What schedules should be included in a Irrevocable Inter Vivos Deed Of Gift?

1. Schedule 1 - Gift Description: Detailed description of the gifted property including any identifying features, serial numbers, or titles

2. Schedule 2 - Title Documents: Copies of relevant title documents or ownership certificates

3. Schedule 3 - Valuation: Independent valuation of the gift if required for tax or duty purposes

4. Schedule 4 - Photographs: Photos of the gifted property where relevant (e.g., artwork, jewelry)

5. Appendix A - Consent Forms: Any required third-party consent forms

6. Appendix B - Transfer Documents: Additional transfer documentation required for specific types of property

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Genie AI

Document Type

Trust Deed

Sector

Cost

Free to use
Relevant Industries

Legal Services

Financial Services

Wealth Management

Non-Profit & Charity

Estate Planning

Real Estate

Art & Collectibles

Education

Healthcare

Family Business

Private Banking

Relevant Teams

Legal

Wealth Management

Private Client Services

Estate Planning

Tax Advisory

Corporate Secretariat

Trust Administration

Philanthropy Advisory

Property Services

Risk & Compliance

Relevant Roles

Lawyer

Estate Planning Attorney

Property Lawyer

Tax Advisor

Wealth Manager

Financial Planner

Trust Officer

Philanthropic Advisor

Legal Counsel

Company Secretary

Probate Specialist

Corporate Trustee

Family Office Manager

Private Client Advisor

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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