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Irrevocable Deed Of Gift

Irrevocable Deed Of Gift Template for Ireland

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Key Requirements PROMPT example:

Irrevocable Deed Of Gift

I need an Irrevocable Deed of Gift to transfer my holiday home in County Cork to my daughter, with completion planned for March 15, 2025, including provisions for existing tenant agreements and confirmation that all property taxes are paid up to date.

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Document background
The Irrevocable Deed of Gift is a crucial legal instrument in Irish law used when a party (donor) wishes to make an absolute and irrevocable transfer of property or assets to another party (donee) without receiving anything in return. This document is commonly used in estate planning, charitable donations, family wealth transfers, and corporate gifting scenarios. It must include specific elements to be valid under Irish law, including clear identification of the parties, detailed description of the gifted property, explicit statement of irrevocability, and proper execution formalities. The deed must comply with various Irish legislative requirements, including the Land and Conveyancing Law Reform Act 2009 and tax regulations. It's particularly important to note that once executed, an Irrevocable Deed of Gift cannot be canceled or modified, making it a significant legal commitment that requires careful consideration and proper legal advice.
Suggested Sections

1. Parties: Identifies and provides full details of the donor (giftor) and donee (recipient), including their full legal names, addresses, and any capacity in which they are acting

2. Background: Sets out the context of the gift, relationship between parties if relevant, and confirms the donor's intention to make an irrevocable gift

3. Definitions: Defines key terms used throughout the deed for clarity and legal certainty

4. Gift Declaration: Clear and unequivocal statement of the gift, confirming its irrevocable nature and immediate effect

5. Description of Property: Detailed description of the gifted property or assets, with reference to any relevant schedules

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

7. Delivery and Transfer: Specifies how and when the property will be transferred to the donee

8. Tax Acknowledgments: Statements regarding responsibility for any tax implications arising from the gift

9. Execution Requirements: Format and requirements for proper execution of the deed under Irish law

Optional Sections

1. Conditions of Gift: Used when there are any permissible conditions attached to the gift, though these must not make the gift revocable

2. Third Party Consents: Required when the gifted property requires consent from third parties for transfer

3. Property Management: Included when the gift involves property requiring ongoing management or maintenance arrangements

4. Powers of Attorney: Needed when the donor grants specific powers to the donee to complete registration or transfer processes

5. Future Rights: Used to address any future rights or obligations relating to the gifted property

6. Governing Law Choice: While Irish law is specified, this section may be needed if the property has international elements

Suggested Schedules

1. Schedule 1 - Property Description: Detailed technical or legal description of the gifted property, including any relevant registration numbers, titles, or identifying features

2. Schedule 2 - Property Documents: List of all relevant documents relating to the property being transferred

3. Schedule 3 - Encumbrances: If applicable, details of any existing encumbrances, rights, or restrictions affecting the property

4. Appendix A - Property Plans: When real property is involved, includes maps, plans, or drawings of the property

5. Appendix B - Photographs: For unique items or artwork, includes photographs or detailed descriptions for identification

6. Appendix C - Valuation Reports: If required for tax purposes, includes professional valuation of the gifted property

Authors

Alex Denne

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

alex.den.21@genieai.co
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