Wayne County Gift Deed Forms (Kentucky)

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Form Package

Gift Deed

State

Kentucky

Area

Wayne County

Price

$27.97

Delivery

Immediate Download

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Included Forms

All Wayne County specific forms and documents listed below are included in your immediate download package:

Gift Deed Form

Gift Deed Form

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last reviewed/updated 3/15/2024

Gift Deed Guide

Gift Deed Guide

Line by line guide explaining every blank on the form.
Included document last reviewed/updated 12/14/2023

Completed Example of the Gift Deed Document

Completed Example of the Gift Deed Document

Example of a properly completed form for reference.
Included document last reviewed/updated 4/19/2024

Frequently Asked Questions:

How long does it take to get my forms?

Forms are available immediately after submitting payment.

What are supplemental forms?

Often when a deed is recorded, additional documents are required by Kentucky or Wayne County. These could be tax related, informational, or even as simple as a coversheet. Supplemental forms are provided for free with your order where available.

How do I get my forms, are they emailed?

Forms are NOT emailed to you. Immediately after you submit payment, the Wayne County forms you order will be available for download directly from your account. You can then download the forms to your computer. If you do not already have an account, one will be created for you as part of the order process, and your login details will be sent to you. If you encounter any issues accessing your forms, please reach out to our support team for assistance.

What type of files are the forms?

All of our Wayne County Gift Deed forms are PDFs. You will need to have or get Adobe Reader to use our forms. Adobe Reader is free software that most computers already have installed.

Can the Gift Deed forms be re-used?

Yes. You can re-use the forms for your personal use. For example, if you have more than one property in Wayne County that you need to transfer you would only need to order our forms once for all of your properties in Wayne County.

Are these forms guaranteed to be recordable in Wayne County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Wayne County including margin requirements, content requirements, font and font size requirements.

Do I have to enter all of my property information online?

No. The blank forms are downloaded to your computer and you fill them out there, at your convenience.

Can I save the completed form, email it to someone?

Yes, you can save your deed form at any point with your information in it. The forms can also be emailed, blank or complete, as attachments.

Do I need any special software to use these forms?

You will need to have Adobe Reader installed on your computer to use our forms. Adobe Reader is free software that most computers already have installed.

Are there any recurring fees involved?

No. Nothing to cancel, no memberships, no recurring fees.

Areas Covered by These Gift Deed Forms:

  • Wayne County

Including:

  • Monticello

What is the Kentucky Gift Deed

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 Kentucky residential property, the primary methods for holding title are tenancy in common, joint tenancy, and tenancy by the entirety. An estate conveyed to two or more persons is considered a tenancy in common, unless a joint tenancy is specified. An estate conveyed to a husband and wife vests as a tenancy in common, unless a tenancy by the entirety with full right of survivorship is expressly stated (KRS 381.050).

As with any conveyance of realty, a gift deed requires a complete legal description of the parcel. Recite the prior deed reference to maintain a clear chain of title, and detail any restrictions associated with the property.

In Kentucky, most conveyances of real property require a statement of consideration. A transfer tax is levied based on the actual consideration stated and paid. When real property is gifted from one party to another and no consideration is exchanged, tax is paid on the property's estimated value, so that amount must be stated within the instrument (KRS 382.135(1)(e)). "Value," as defined by KRS 142.050(1)(b)(2), is "the estimated price the property would bring in an open market and under the then prevailing market conditions in a sale between a willing seller and a willing buyer, both conversant with the property and with prevailing general price levels." Each grantee must join in signing to certify the consideration statement.

The deed must be signed by both the grantor and grantee and acknowledged by an authorized individual. All signatures must be original. In Kentucky, deeds also require a preparation statement, comprised of the document preparer's name, address, and signature (KRS 382.335(1)). Instruments also require the name and address of the person to receive future tax statements on the subject property (KRS 382.135(1)(d)).

Record the completed gift deed with the clerk's office in 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 Kentucky, 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]. 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). However, 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 a Kentucky lawyer with any questions about gift deeds or other matters 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

(Kentucky Gift Deed Package includes form, guidelines, and completed example)

Our Promise

The documents you receive here will meet, or exceed, the Wayne County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Wayne County Gift Deed form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

Reviews

4.8 out of 5 (4316 Reviews)

Gina G.

April 17th, 2024

This service is fantastic! Took a few tries to scan the document correctly, but their patience and quick turn around made this a far better experience than going to the County myself.

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Michael M.

April 17th, 2024

Great service that satisfied all my needs. Great prices too.

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April 16th, 2024

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May 3rd, 2019

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March 20th, 2021

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December 17th, 2021

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April 30th, 2021

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RHONDA G.

February 22nd, 2024

Was driven to this site by the county website. It took a bit of work having to create an account, etc. The example was useful; however the example only showed both parties in the same county, nor did the instructions mention anything about differing counties. This caused an oversight on my part.

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Marilyn C.

April 6th, 2020

My document got recorded right away. Thank you! Will use again in the future when needed.

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July 20th, 2022

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September 20th, 2020

It was very simple and easy to fill out the information need to do the warranty deed.

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June 9th, 2023

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June 17th, 2019

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March 16th, 2020

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August 7th, 2019

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