Deed Of Gift
(Commercial Transaction) (GA)

Summary

This deed of gift template is commonly used in Georgia to transfer title of commercial real property between spouses, relatives, friends, or charities. It can only be used when no compensation or consideration is involved in the transaction. This template includes practical guidance, drafting notes, and an optional clause. Similar to a quitclaim deed, an owner/grantor transferring title through a Deed of Gift does not warrant title to the property. All deeds transferring real property must be accompanied by form PT-61, Real Estate Transfer Tax Declaration when submitted for recording, whether or not the transfer is exempt from payment of Georgia transfer tax. No transfer tax is due with a Deed of Gift. See GSCCCA PT-61 eFiling. See also Real Property Transfer Taxes (GA). For templates of other deeds to use in commercial transactions in Georgia, see Limited Warranty Deed (Commercial Transaction) (GA), Quitclaim Deed (Commercial Transaction) (GA), and Warranty Deed (Commercial Transaction) (GA). For templates of deeds to use in residential transactions in Georgia, see Deed of Gift (Residential Transaction) (GA), Quitclaim Deed (Residential Transaction) (GA), Limited Warranty Deed (Residential Transaction) (GA), and Warranty Deed (Residential Transaction) (GA). For information on the process of buying and selling commercial real property in Georgia, see Purchasing and Selling Commercial Real Estate Resource Kit (GA), Purchase and Sale of Commercial Real Property (GA), and Commercial Real Estate Ownership (GA). For information on ownership structures used when acquiring residential or commercial real property in Georgia, see Choice of Ownership Structure of Real Property (GA). For information on recording real property documents in Georgia, see Recording Procedures (GA). For information on deed transfer taxes in Georgia, see Real Property Transfer Taxes (GA). For information on the process of buying and selling residential real property in Georgia, see Residential Purchase and Sale Transactions Resource Kit (GA). For more on deeds in general, see Types of Deeds and Key Provisions. See also Thompson on Real Property, Thomas Editions § 82.04 and Powell on Real Property § 81A.03. For information on deed transfer taxes, see Deed Transfer Tax State Law Survey. For general information on recording real property documents, see Recording Real Property Documents. For further guidance on acknowledgments, see Statutory Forms of Acknowledgment State Law Survey. For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. See also Junior Associate Real Estate Resource Kit (Commercial Purchase and Sale). For a full listing of key content covering purchasing and selling residential real estate, see Purchasing and Selling Residential Real Estate Resource Kit. For a list of key resources covering real estate-related tasks for associates, in-house attorneys, and interns, see First Year Associate Resource Kit: Real Estate, Summer Associate Resource Kit: Real Estate, In-House Real Estate Resource Kit, and Federal Government Summer Intern Resource Kit: Real Estate.