Agreement on the gift of money between close relatives

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The desire of parents to help their children when buying an apartment directs them to the question of how to formalize the donation of money and avoid misunderstandings in the future. The whole point is that in this way you can confirm the personal property rights of your child. This is true if the son or daughter is already married. In order for the registration process to proceed correctly, we recommend that you familiarize yourself with the features of drawing up such an agreement, take into account all possible nuances, and familiarize yourself with the document template.

What is a gift deed?

A gift agreement (hereinafter referred to as DD) is an oral or written agreement of the parties, according to which the donor undertakes to transfer real estate, valuables or money to the donee. Donations of any property are allowed, but this article will focus exclusively on finances.

There are several points to consider:

This is a free transaction. The donor has no right to demand services or property from the recipient in exchange for money.
The written DD must indicate the subject of the transaction – funds.

It is impossible to draw up an agreement indicating that the money will go to the other party after the death of the donor - the rules of inheritance apply here (Article 1110 of the Civil Code of the Russian Federation). You need to draw up a will, and when the successor enters into an inheritance, he can come to the bank and withdraw cash by presenting the appropriate certificate.

Form of money donation agreement

The written form of the agreement is required in several cases (Article 574 of the Civil Code of the Russian Federation):

An amount over 3,000 rubles is donated. from a legal entity.
The contract contains a promise of future donation. A reference will be required for a specific date from which the donee will be able to use the money.

State registration for a money donation agreement is not provided.

Usually an oral form is enough: agree with the person about the gift and hand it over. The parties should protect themselves from being challenged in court: if the agreement is reflected in the document, it is problematic to cancel the transaction.

Complete the survey and a lawyer will share a plan of action for a gift agreement in your case for free.

What should I include?

The text of the contract must contain certain information. First of all, this is information about the parties who entered into a transaction. You must indicate your full name, address, and passport details. It is also necessary to provide bank details if funds are transferred to a bank account.

The subject of the contract is its essential condition. That is why the text must clearly indicate the subject of this agreement - funds that are transferred free of charge. You also need to specify the size and currency. The official currency of the Russian Federation is the ruble, so the amount of funds must be indicated in rubles. Even if foreign currency is transferred on the basis of a gift , its equivalent in rubles must be indicated in the text.

Also in the contract you need to include a clause regarding the moment of transfer of funds . Even if they are transferred at the time of signing the contract, this also needs to be mentioned.

As mentioned above, funds can be donated for any purpose. But if the donor pursues a specific goal, then it must be indicated in the text of the agreement.

What can you donate money for?

The recipient has the right to use the donated money at his own discretion: buy an apartment, a car, go on a trip, etc.

An exception is a donation or targeted gift agreement: in this case, funds are transferred for certain expenses.

Drawing up a promise of gift agreement

Such a DD confirms the donor’s intentions to transfer finances to the second party in the future.

You will need to indicate a specific date or event at which the money will become the property of the donee:

wedding;
graduation;
Moving to another city.

The event can be anything at the discretion of the financial owner. The content of the DD in the future is similar to the content of the real deed of gift, but a reference will be needed to the date or situation in which the funds will become the possession of the second party.

Donation agreement

Targeted donation means the transfer of money for specific needs: buying an apartment, car, paying for education, etc.

However, in reality, problems may arise with proving expenses, so it is better to choose one of the presented methods:

buy property and donate it to the other party;
draw up a donation agreement, according to which, if funds are spent inappropriately, the donor has the right to demand cancellation of the transaction (clause 5 of Article 582 of the Civil Code of the Russian Federation).

Sample agreement for the donation of money for the purchase of an apartment:

Consultation on document preparation

How to draw up a vehicle donation agreement? Form, documents, practical advice from a lawyer

How to draw up a car donation agreement and is it necessary?

Questions and answers

Question one:
If we certify a deed of gift, do we need to pay some kind of tax?
Answer:
When concluding a gift transaction between close relatives, there will be no tax in any case. Personal income tax is not assessed on donated/inherited property. If you decide to have a document certified by a notary, you will have to pay a notary fee. The certification procedure is not mandatory.
Question two:
If we transferred funds to our son to buy an apartment, we confirmed the transaction with an agreement. Four months have already passed, we stipulated a three-month period in the agreement, but he still hasn’t bought an apartment. He is not going to return the money, what should he do in this case?
Answer:
You need to go to court to cancel the transaction on the basis of non-fulfillment of obligations by the other party. The court will order your son to return the amount you previously transferred.
Question three:
We gave our daughter 2 million rubles under a special gift agreement. To buy an apartment, real estate was purchased with her money. Will my son-in-law be able to sue part of the apartment from our daughter, since the property will be jointly acquired? Did you buy an apartment after your wedding?
Answer:
The main thing is that you have in your hands a receipt for the transfer of money to your daughter for an apartment + a target agreement. Then it will be necessary to prove that the apartment is the daughter’s personal property. You also need documentary evidence of the amount paid for the real estate.

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Who can you give money to?

Money is given to anyone:

parents,
between spouses,
minor children,
grandchildren,
sisters or brothers,
to third parties.

The legislation does not establish restrictions, because Finances are recognized as the personal property of citizens. The main thing is that the transaction is voluntary. Gifts from individuals to legal entities and vice versa are allowed.

It is important to consider the following:

transactions with children over 14 years of age are carried out with their participation, but with the consent of their parents;
if the child is under 14 years old, the contract is concluded with one of the parents, because he acts as the legal representative.

There are no restrictions on amounts - you can donate several million. But it is important to be able to confirm their origin if finances are transferred through an online bank and employees have reason to assume that they were illegally received by the owner, or there are suspicions of theft from a bank account by unauthorized persons.

Donation is prohibited only to certain categories of citizens:

employees of educational, social, medical and other organizations - on behalf of people there for treatment, maintenance or training;
employees of state or municipal institutions, banks, if the transaction is related to their official powers;
between commercial establishments;

An exception is donations of amounts up to 3,000 rubles to civil servants or bank employees. within the framework of official events: the ban does not apply to them. If the value of the gift exceeds 3,000 rubles, it is recognized as the property of the government agency and is transferred into possession under the appropriate act.

Donation of money between legal entities and individuals

Organizations have the right to donate money to citizens, and the agreement is drawn up in writing if the amount exceeds 3,000 rubles. Failure to comply with this form is grounds for declaring the gift transaction invalid.

It is important to consider several nuances:

When transferring property free of charge, the donor must pay VAT. But this rule does not apply to donations of money - there is no need to pay tax.
The DD indicates the amount and currency.
If an enterprise promises a gift in the future, before the DD comes into force, the citizen has the right to refuse the gift. If the refusal entails losses for the donor, the other party compensates them voluntarily or in court.

It is worth considering that a donation of money made six months before the company files a bankruptcy petition with the arbitration court is canceled at the initiative of the creditor. This is how almost all transactions related to the alienation of property are most often annulled: the courts are usually inclined to the opinion that it is legally transferred by the bankrupts to other persons, but in fact remains in their use.

If the money is in the bank

If the finances are in a bank account, you can simply come to the bank and write an application for transfer to the recipient’s account. You won't need a deed of gift.

An alternative option is to issue a bearer savings certificate: for example, certificates were issued by Sberbank until June 1, 2021.

If confirmation of the donation is important, you can draw up a deed of gift and bring it and the recipient to the bank to transfer or cash out the money.

Are you tired of reading? We’ll tell you over the phone and answer your questions.

Requirements for donors

The donor has the right to be an adult capable citizen. Children under 14 years of age have the right to give small gifts up to RUB 3,000. Giving large sums of money is prohibited. A child over 14 years old can give any gifts, but with parental consent. To alienate money, permission from the guardianship authorities in this case does not need to be taken if it is not the property of a minor.

If funds that belong to the child and are in a special bank account opened in his name are donated, guardianship permission will be required, because Here we are talking about the alienation of the personal property of a minor. The chance of receiving a positive answer is minimal - such transactions are not approved.

It is important to consider that when donating money on behalf of one of the spouses, the consent of the other will be required. There is no need to notarize it, but if the husband or wife finds out about the transfer of finances to another person, the transaction can be challenged. The main condition is the gift of money by a spouse without the consent of the other, or the transfer of a gift with a known disagreement.

Legal advice: to avoid disagreements with your spouse about transferring money to another person as a gift, it is better to take a receipt from him. It is drawn up in simple written form, but if necessary, you can confirm that you did not violate the rights of your spouse.

Elena Plokhuta

Lawyer, website author (Civil law, 7 years of experience)

Briefly: donors can be adults and capable citizens. Donations on behalf of individuals or legal entities are allowed.

A deed of gift for money in writing cannot be notarized, but it is better to get a notary’s signature. This will avoid challenging the transaction and confirm that the donor was competent and adequate at the time of its conclusion. Certification by a notary is especially important when large sums are involved.

Cost of notary services

The notary fee for certification is established by Article 22.1 of the “Fundamentals of Legislation on Notaries”:

if the donee is the donor’s spouse, parent, child, brother or sister – 0.3% of the amount, minimum 200 rubles;
for other persons – 1%, minimum 300 rubles.

The payment is calculated based on the amount specified in the DD.

Additionally, the notary has the right to charge a fee for drawing up a deed of gift if citizens turn to him for such a service. Its cost varies from 5,000 to 10,000 rubles, depending on the complexity of the transaction.

Example of cost calculation:

The woman decided to give her daughter 5,000,000 rubles. She drew up a deed of gift, having it certified by a notary. Both parties came to the bank to transfer funds to the donee’s account.

The notary was paid:

5,000,000 x 0.3% = 15,000 rubles.

This amount could be saved and not paid to the notary, but the presence of a certified DD makes it almost impossible to challenge it.

justice pro...

Each of us may find ourselves in a situation where they give money (to be a donor of funds or to receive them as a gift). Very often there is a gift of money between close relatives. In the article we will talk about the features of a monetary gift to a loved one, how best to draw up a contract of donation of funds between relatives (a sample is presented in the article), whether it should be certified by a notary, as well as how the courts resolve disputes in which a deed of gift for money from parents.

Form of a money donation agreement between close relatives

According to the law, donations of funds between close relatives can be made both orally and in writing (when promising a donation in the future, writing is required).

But it is still recommended to draw up a contract for donating money between close relatives in writing, and here’s why:

a deed of gift will help resolve issues that may arise for public services related to receiving a large sum of money;
in the case of a so-called targeted gift of funds from parents to a son or daughter (for example, for the purchase of an apartment, a car), a correctly drawn up gift agreement will help relieve the property from the claims of the son’s or daughter’s spouse during a divorce (see judicial practice below).

Therefore, whether a contract of gift of money between close relatives (its written form) is needed, the parties decide for themselves based on specific circumstances.

Donation agreement between close relatives: notary

According to the law, donations of money between close relatives do not need to be notarized. However, if a large sum of money is donated, for example, to purchase an apartment, then a deed of gift for money between close relatives is often certified by a notary. This circumstance can be taken into account by the courts in divorce proceedings when resolving disputes about the division of property acquired in whole or in part from money given to one spouse from relatives, for example, parents.

Gift of money between close relatives: tax

Income in the form of funds received under a gift agreement is not subject to personal income tax (personal income tax), regardless of whether the donor and recipient are family members and (or) close relatives (Letter of the Federal Tax Service of Russia dated July 10, 2012 N ED-4 -3/ [email protected] ). When donating a car or apartment, a different rule applies.

How to register a gift of money between close relatives

When answering the question of how to formalize a gift of money from parents or other relatives, you need to remember that the parties to the agreement may have to give explanations for this transaction, and also use it as evidence in court proceedings. In this regard, it is better to draw up an agreement on the gift of money from parents to a son or daughter in writing (at the request of the parties, have it certified by a notary).

As a rule, a deed of gift for money between close relatives contains:

an indication that the transaction is free of charge;
place and date of conclusion of the contract;
information about the donor and recipient (full name, passport details, address);
information about the exact amount of funds (both in numbers and in words), currency,
procedure for transferring money;
signatures of the parties on all copies of the agreement for donating funds to a relative.

The fact of execution of a contract of donation of funds between relatives, as a rule, is confirmed by a receipt for receipt of money (deed of acceptance and transfer).

In some cases, it will be useful to draw up the consent of the donor’s spouse to donate money.

Gift deed for money from parents during divorce

According to Article 256 of the Civil Code of the Russian Federation, property that belonged to each of the spouses before marriage, as well as property received by one of the spouses during marriage as a gift or by inheritance, is his property (not joint property). Personal property is not divided in a divorce.

Does this mean that an apartment or car purchased during marriage with money donated by the parents of one of the spouses is considered his personal property and is not subject to division of property during a divorce?

As a rule, the spouse who received money under a gift agreement from his father or mother will have to prove that the donated funds were used to purchase an apartment, car, or other property.

Therefore, in order to ensure that an apartment or car acquired by a son or daughter during marriage is not considered jointly acquired property and is not subject to division during a divorce, it is better for parents to give not money, but real estate or vehicles already purchased with money. Thus, in order to avoid disputes over the division of property, it is better to draw up not an agreement for the gift of money to a son or daughter, but an agreement for the gift of a car, apartment, etc.

But if an apartment or car was purchased with money donated from parents, then the decision to classify this property as personal is made at the discretion of the court. In this case, the court may take into account the evidence offered by the donee under the gift agreement, for example: bank statements, a list of banknotes under the deed of gift for money and the real estate purchase and sale agreement. The courts also take into account the presence of a time gap between the dates of donating money for an apartment and purchasing the apartment.

If you intend to receive a large sum of money from a close relative, take care to formalize the transaction

Judicial practice on the agreement of gift of money between close relatives

A monetary gift agreement between relatives can play an important role in court when dividing property in the event of a divorce.

When making decisions, courts may be guided by the following:

“property acquired as a gift or by inheritance, as well as things for individual use, with the exception of jewelry and other luxury items, is not considered joint property, although acquired during marriage, but with the personal funds of one of the spouses that belonged to him before marriage. (Article 36 of the RF IC)” (clause 15 of the Resolution of the Plenum of the Supreme Court of the Russian Federation of November 5, 1998 N 15 “On the application of legislation by courts when considering cases of divorce”);
“the regime of common joint property of the spouses does not apply to property acquired during marriage, but to funds that belonged to one of the spouses personally” (clause 10 Review of judicial practice of the Supreme Court of the Russian Federation No. 2 (2017)" (approved by the Presidium of the Supreme Court RF 04/26/2017)).

Thus, the panel of judges considered it incorrect to divide the disputed apartment into ½ shares, because part of the apartment purchased during marriage was paid for from the personal funds of the spouse (this is confirmed by the presence of a notarized agreement on the donation of funds from mother to son). In accordance with this, the court reduced the share of property acquired by the spouses, which was subject to division between them upon divorce. Thus, the son, who received money from his mother to buy an apartment, retained for himself part of the apartment acquired with personal funds (in accordance with the amount of the agreement for donating money from the mother) and half of the remaining part of the apartment, which was recognized as the joint property of the spouses (Appeal ruling of the Moscow City Court dated June 16, 2021 in case No. 33-19710).

However, the existence of an agreement for donating money (for example, to a son from a father) does not guarantee recognition of the apartment as the son’s personal property in the event of a divorce. Thus, if an examination of the deed of gift ordered by the court shows that the signatures in the agreement for the donation of funds were made later than the date of the agreement, then the existence of the agreement may not be taken into account by the court (Decision of the Kislovodsk City Court (Stavropol Territory) dated November 20, 2021 in case No. 2-953/2018).

Agreement on gift of funds between relatives (sample 1)

Here is a simple example of a deed of gift for money from parents (or other relatives).

Donation agreement

[Place of conclusion of the contract]

[Day month Year]

______________ [full name day month year] year of birth, passport series ______ number ______ issued___________ hereinafter referred to as “Donor”, on the one hand and

______________ [full name day month year] year of birth, passport series ______ number ______ issued___________ hereinafter referred to as the “Done”, on the other hand, and together referred to as the “Parties”, have entered into this agreement as follows:

Under this agreement, the Donor transfers free of charge to the Donee, and the Donee accepts as a gift funds in the amount of ___________([amount in words]) rubles.
The funds specified in clause 1 of this agreement are transferred by the Donor to the Donee at the time of signing the agreement.
This agreement has been drawn up in two copies (one for each Party) having equal legal force.

Donor	donee
_________________[FULL NAME]	___________________[FULL NAME]
_________________ [Passport]	___________________ [Passport]
_________________ [Address]	___________________ [Address]
_________________ [Signature]	___________________ [Signature]

Agreement on donating money between close relatives (sample 2)

By agreement of the parties, a more detailed agreement on donating money can be drawn up.

Donation agreement

[Place of conclusion of the contract]

[Day month Year]

______________ [full name day month year] year of birth, passport series ______ number ______ issued___________ hereinafter referred to as “Donor”, on the one hand and

1. The Subject of the Agreement

1.1.Under this agreement, the Donor transfers free of charge to the Donee, and the Donee accepts as a gift funds in the amount of ___________([amount in words]) rubles.

1.2 The funds specified in clause 1.1 of this agreement are transferred by the Donor to the Donee at the time of signing the agreement.

1.3 The transfer of funds to the Donee is formalized by a receipt for receipt of money.

2. Rights and Obligations of the parties

2.1 The recipient has the right to refuse it at any time before the gift is transferred to him. In this case, this agreement is considered terminated. Refusal of a gift must be in writing.

2.2 The donor has the right to cancel the donation based on the cases specified in Art. 578 Civil Code of the Russian Federation.

3. Dispute resolution procedure

3.1 Disputes and disagreements that may arise during the execution of this agreement will, if possible, be resolved through negotiations between the Parties.

3.2 If the Parties do not reach an agreement, disputes will be resolved in court in accordance with the current legislation of the Russian Federation.

4.Final provisions

4.1 This agreement is drawn up in ____ copies having equal legal force.

4.2 The Agreement comes into force from the moment it is signed and is valid until the Parties fully fulfill their obligations under this Agreement.

4.3 All changes and additions to this agreement are formalized by additional agreements of the Parties in writing, which are an integral part of this agreement.

4.4 In all other respects that are not provided for in this agreement, the Parties are guided by the current legislation of the Russian Federation.

5. Details and signatures of the parties

Donor	donee
_________________[FULL NAME]	___________________[FULL NAME]
_________________ [Passport]	___________________ [Passport]
_________________ [Address]	___________________ [Address]
_________________ [Signature]	___________________ [Signature]

Agreement on gift of money between close relatives for the purchase of an apartment

In the event that there is a “targeted donation” of funds, for example, for the purchase of an apartment, then the agreement can stipulate the obligation of the recipient of the family member to purchase an apartment with the donated money. In addition, in the deed of gift for money for the purchase of an apartment from a close relative, the parties to the agreement have the right to indicate the exact address of the apartment that is planned to be purchased.

Gifting money between close relatives is not such a rare occurrence. Often, parents help their children when making a major purchase (an apartment or other real estate, a car). But it is important to correctly and timely draw up a contract of donation of funds between relatives (a sample of which was presented in the article), because the fate of the acquired property, as well as the presence/absence of issues from government agencies, may depend on this.

Posted by:

Ralenko Anton Andreevich

Moscow 2019

Is it necessary to draw up a transfer and acceptance certificate?

The law does not oblige citizens to draw up an act of acceptance and transfer of money, but its execution is desirable. It confirms the fact that the parties have fulfilled their obligations: the donor undertakes to transfer the funds, and the donee – to accept.

The agreement reflects only the intention.

Sample transfer acceptance certificate

To complete the act you will need:

FULL NAME. parties, passport details;
the amount donated;
details of the deed of gift;
bank account details;
signatures and date of compilation.

Sample act of acceptance and transfer of money:

Consultation on document preparation

Note! The act is drawn up exclusively upon delivery of funds to the donee.

How to draw up a money donation agreement: step-by-step instructions

Drawing up a gift agreement consists of several steps:

Coordination of the transaction with the donee - he has the right to refuse, incl. and in the future. If the DD is drawn up in writing, the refusal is issued in a similar form.
Drawing up a deed of gift. If desired, you can have it certified by a notary.
Transfer of money to the second party with subsequent execution of the act.

The act is signed by both parties and is drawn up in two copies.

Contents of a deed of gift for an employee

The contract includes information about:

parties to the transaction;
name of legal entity faces;
amount;
dates of entry into force.

Signatures of the parties will be required. It is recommended to make it clear that the money is not transferred as a loan, credit, etc. It is better to clarify that this is a gratuitous transfer.

Sample agreement for donating money to an employee:

Consultation on document preparation

Contents of the donation agreement for specific needs

If you want to donate money for specific needs, draw up a donation agreement, indicating the information:

FULL NAME. parties, passport details;
amount;
the purposes for which the funds are donated.

Sample charitable donation agreement:

Consultation on document preparation

Contents of the gift agreement in the future

The transfer of a gift can be postponed to the future by indicating a specific date and other information in the DD:

amount, currency;
information about the parties to the transaction;
reference to obtaining the consent of the donor’s spouse (if taken);
date and place of imprisonment.

Sample contract for a promise to donate funds in the future:

Consultation on document preparation

Description of donation of funds

gift agreement is a type of transaction provided for in the civil code. On the basis of this agreement, the thing is transferred to the donee free of charge, i.e. without any fee or compensation.

Legislation gives a clear concept of a thing. Money also acts as such. Accordingly, donations of funds . Moreover, this agreement can be concluded both between close relatives and between persons who are not related.

In practice, a gift agreement is concluded for various purposes. Many people give money to someone to buy an apartment or other real estate or to repay a loan, etc. In accordance with current legislation, the purpose of the transaction does not play any role; accordingly, it may not be indicated in the text of the agreement.

When donating money, you need to pay attention to the method of presenting the gift. Money can be given in cash at the time of signing the agreement or transferred to the recipient’s bank account via wire transfer.

Do I need to pay taxes on gifting money?

According to clause 18.1 of Art. 217 of the Tax Code of the Russian Federation, income received from individuals through a gift from a close relative is not subject to taxation. A similar rule is established in clause 28 of this article in relation to gifts from individual entrepreneurs and enterprises, but in the amount of up to 4,000 rubles. If the transaction value exceeds the specified amount, personal income tax of 13% is paid on the excess amount.

Example:

The company gave the employee 10,000 rubles. for winning the competition. Of this money, 4,000 rubles are not taxed, for 6,000 rubles. Personal income tax will have to be paid:

6,000 x 13% = 780 rub.

The company acts as a tax agent, so personal income tax is withheld by the accountant and reflected in salary documents.

Gift Taxes

Many are interested in the question of whether funds received as a gift are subject to tax, and many mistakenly think that if an agreement was concluded between close relatives, then only in this case the recipient is exempt from the obligation to pay taxes.

In fact, tax legislation has completely different regulations: in any case, the donee is exempt from the obligation to pay taxes when donating funds , even if the donor and the donee are not related. Accordingly, there is no need to fill out a declaration and pay taxes.

The legislation provides for a list of property, upon donation of which it is necessary to pay taxes. The list of such property includes:

apartment or other real estate;
stock;
shares;
vehicles.

In other cases, no tax needs to be paid.

Is it possible to cancel a deed of gift?

Cancellation of the gift agreement is possible in accordance with Art. 578 of the Civil Code of the Russian Federation for several reasons:

commission by the donee of a crime against the health and life of the donor;
death of the donee, if the donor survives him and such a possibility is indicated in the DD;
drawing up a deed of gift by an incapacitated minor in violation of the law;
registration of DD under physical or mental influence.

Cancellation of a DD is carried out voluntarily by the parties, if the donee disagrees - in court.

To do this, the donor needs:

Collect documents and evidence supporting claims.
Submit an application to the court at the defendant’s place of residence.
Participate in the trial, obtain a decision.
Present a copy of the decision that has entered into force and the writ of execution to the bailiffs if the defendant does not want to return the money without this.

Note! On behalf of an incapacitated citizen or a child, legal representatives have the right to apply to the court.

Arbitrage practice

Often, courts satisfy claims, but only if the plaintiffs present irrefutable evidence.

There is little judicial practice on challenging the DD of money, but there are other examples of decisions in favor of the plaintiffs, where the subjects of the transaction are land plots or real estate:

Decision No. 2-846/2019 dated May 30, 2021 in case No. 2-846/2019;
Decision No. 2-99/2019 2-99/2019~M-19/2019 M-19/2019 dated May 29, 2019 in case No. 2-99/2019;
Decision No. 2-779/2019 2-779/2019~M-341/2019 M-341/2019 dated May 23, 2019 in case No. 2-779/2019.

Notarization

Most often, concluding an agreement between close relatives is not accompanied by difficulties. The document is drawn up only if the parties wish. Finding a template is also not difficult. It sets out the rights and obligations of the parties. In particular, the donor undertakes to transfer a certain amount of money, and the recipient undertakes to spend the gift for specified purposes. For example, they need to be used to purchase property or pay for a service.

Citizens can use the services of a notary or lawyer only at their own request. But if you intend to transfer a large amount of funds, then it is better if a notary is present when transferring the money as a gift. The notarized form of the agreement will help to avoid attacks from another relative, for example, the spouse of the recipient.

If a child receiving a gift from his parents is officially married, but wants to protect himself, a notarial agreement is drawn up for this purpose. The gift cannot be divided as it is personal property. The recipient, in the event of a divorce, will be able to allocate the shares of the apartment purchased with his personal funds.

If the following conditions exist, the transaction is notarized:

identification of the parties;
presence of both parties to the transaction;
availability of the specified amount;
payment for notary services;
the amount should not be higher than 10 minimum wages.

Attention! State duty (notarial tariff, fee) is a tax paid by the parties for notarial services.

Termination of an agreement

A reference to the law! Article 578 of the Civil Code stipulates the possibilities for terminating a transaction.

Readers are also interested in whether it is possible to challenge a deed of gift? Yes, this is possible if certain circumstances apply, including:

the recipient of the gift made an attempt on the health (life) of the donor himself/his relatives;
intentional deprivation of life (if the donor dies from the actions of the recipient, then the heirs can challenge the transaction);
transfer of money from an individual entrepreneur (a legal entity to an individual), if the transfer took place six months before bankruptcy.

Termination of a transaction may also occur under the following conditions:

child's refusal of parental money;
the donor survives the recipient;
the financial situation/standard of living of the donor has deteriorated significantly.

In the conditions of cancellation of the gift agreement, the money must be returned to the former owner.

Peculiarities of concluding a contract in a family

If the agreement is concluded between relatives, how will the procedure go? There are no differences when concluding a transaction between close relatives and strangers. But there is one significant relaxation: if the transaction is concluded between close blood people, ancestors and children are considered to be them, then you do not need to pay income tax.

In a standard situation, the recipient will have to pay 13% of the amount, this is personal income tax. In this case, a declaration is also submitted to the tax office. All participants pay a state fee for notary services.