My Account Deeds.com Real Estate Deeds

Indiana Gift Deed

Gifting Real Property (Real Estate) in Indiana

Gift deeds convey title to real property from one party to another with no exchange of consideration, monetary or otherwise. Often used to transfer property between family members or to gift property as a charitable act or donation, these conveyances occur during the grantor's lifetime. Gift deeds must contain language that explicitly states that no consideration is expected or required. Ambiguous language, or references to any type of consideration, can make the gift deed contestable in court.

A lawful gift deed includes the grantor's full name and marital status, as well as the grantee's full name, marital status, vesting information, and mailing address. Vesting describes how the grantee holds title to the property. Generally, real property is owned in either sole ownership or co-ownership. For Indiana residential property, the primary methods for holding title are tenancy in common, joint tenancy, and tenancy by the entirety (I.C. 32-21-10-2). An estate conveyed to two or more people is presumed a tenancy in common, unless otherwise specified (I.C. 32-17-2-1). An estate conveyed to a married couple vests as tenancy by the entirety unless otherwise specified (I.C. 32-17-3-1).

As with any conveyance of realty, a gift deed requires a complete legal description of the parcel. Recite the source of title to maintain a clear chain of title, and detail any restrictions associated with the property. In Indiana, the deed must be signed by the grantor and acknowledged by an individual authorized to take acknowledgements (I.C. 32-21-2-3). All signatures must be original.

In Indiana, most conveyances of real property require a Sales Disclosure Form. Because a gift deed transfers real property from one party to another with no exchange of consideration, however, this type of conveyance is exempt. Record the completed gift deed in the recorder's office of the county where the subject property is located. Contact the same office to confirm recording fees and accepted forms of payment.

With gifts of real property, the recipient of the gift (grantee or donee) is not required to declare the amount of the gift as income, but if the property accrues income after the transaction, the grantee is responsible for paying the requisite state and federal income tax [1].

In Indiana, there is no state gift tax, but gifts of real property are subject to the federal gift tax. The person or entity making the gift (grantor or donor) is responsible for paying the federal gift tax; however, if the donor does not pay the gift tax, the donee (grantee) will be held liable [1]. For questions regarding state and federal tax laws, consult a tax specialist.

In accordance with federal law, individuals are permitted an annual exclusion of $15,000 on gifts. This means that gifts valued below $15,000 do not require a federal gift tax return (Form 709). If the gift's value could possibly be disputed by the IRS, a donor may benefit from filing a Form 709 [2].

This article is provided for informational purposes only and is not a substitute for the advice of an attorney. Contact an Indiana lawyer with any questions about gift deeds or other issues related to the transfer of real property.

[1] http://msuextension.org/publications/FamilyFinancialManagement/MT199105HR.pdf

[2] https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes

Deeds.com Indiana Gift Deed Forms Have Been Updated as Recently as Wednesday February 12, 2020

4.7 out of 5 (1155 Reviews)

What others like you are saying:


Archie POA G. said: got what I ordered, as expected, in good time

Reply from Staff: Thank you!


Mary K. said: Awesome site. Looking for a way to save hiring an attorney. Family doesn't have the money for that so this site is much appreciated.

Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!


Matthew D. said: Fantastic forms easy process couldn't be happier! Thanks

Reply from Staff: Thank you Matthew!


Larry H. said: Wow! So easy and such a cost savings. Thanks

Reply from Staff: Thanks Larry, we appreciate your feedback.


Doris P. said: Easy to understand and fill out Beneficiary Deed, but when I tried to download finished form, it disappeared! Luckily I had printed it first and had to fill out again.

Reply from Staff: Thank you!


Janet R. said: The site was easy to navigate...all the information needed to fill in the forms was included, which was very helpful and a pleasant surprise...form completed in short order...made taking care of business quick and easy...Thanks for the thoughtful and excellent help, I will share the link with others and I will use the site again...Thanks

Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!


Indiana Gift Deed Form