Gift Deed For Gift Of Money Generator for United Arab Emirates

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Key Requirements PROMPT example:

Gift Deed For Gift Of Money

"I need a Gift Deed For Gift Of Money under UAE law to document a one-time gift of 500,000 AED from a father to his daughter, to be transferred on March 15, 2025, with the deed requiring preparation in both Arabic and English."

Document background
The Gift Deed For Gift Of Money is an essential legal instrument in the United Arab Emirates used to formalize monetary gifts between parties. This document is commonly utilized in family wealth transfers, estate planning, and other situations where one party wishes to make a documented monetary gift to another. The deed must comply with UAE Civil Code (Federal Law No. 5 of 1985) and Sharia principles, which govern gift-giving (Hiba) in the jurisdiction. It includes crucial elements such as donor and donee details, gift amount, source of funds declaration (for anti-money laundering compliance), and appropriate attestations. The document is particularly important in the UAE context as it provides legal protection for both parties and helps prevent future disputes regarding the nature of the transfer. It's commonly used in conjunction with estate planning, family business arrangements, or general wealth transfer situations.
Suggested Sections

1. Parties: Identifies and provides full details of the Donor and Donee, including their legal capacity to give/receive gifts

2. Background: Establishes the context of the gift, relationship between parties, and Donor's wish to make the gift

3. Definitions: Defines key terms used in the deed including 'Gift Amount', 'Effective Date', and other relevant terms

4. Gift Declaration: Clear statement of the Donor's intention to give and the exact amount being gifted

5. Acknowledgment of Receipt: Donee's confirmation of receiving the gift amount and acceptance of the same

6. Source of Funds Declaration: Donor's declaration regarding the legitimate source of the gifted funds (for AML compliance)

7. Irrevocability: Statement confirming the irrevocable nature of the gift

8. Tax Implications: Acknowledgment of understanding of any tax implications of the gift

9. Governing Law: Specification that UAE law governs the deed and reference to Sharia compliance

10. Execution: Formal execution clause with signature blocks for all parties

Optional Sections

1. Conditions: Used when the gift is subject to specific conditions or terms (note: conditions must not conflict with the nature of a gift)

2. Witness Statement: Added when additional verification of the gift transaction is desired or required

3. Power of Attorney: Included when either party is acting through an authorized representative

4. Family Consent: Required when the gift is substantial and affects family inheritance rights under Sharia law

5. Bank Details: Included when the transfer will be made electronically rather than in cash

6. Estate Planning Declaration: Used when the gift is part of a larger estate planning arrangement

Suggested Schedules

1. Schedule 1 - Gift Amount Details: Detailed breakdown of the gift amount if it involves multiple currencies or payment installments

2. Schedule 2 - Identity Documents: Copies of official ID documents of all parties

3. Schedule 3 - Source of Funds Evidence: Documentation proving the legitimate source of gifted funds

4. Appendix A - Bank Transfer Instructions: If applicable, details of bank accounts and transfer procedures

5. Appendix B - Powers of Attorney: If applicable, copies of power of attorney documents

6. Appendix C - Translation Certificate: If the deed is bilingual, certified translation of the document

Authors

Alex Denne

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

Relevant Industries

Legal Services

Financial Services

Private Banking

Wealth Management

Family Office Services

Estate Planning

Islamic Finance

Professional Services

Notary Services

Translation Services

Relevant Teams

Legal

Compliance

Wealth Management

Private Banking

Document Processing

Translation Services

Islamic Banking

Estate Planning

Client Relations

Risk Management

Relevant Roles

Legal Counsel

Private Wealth Manager

Estate Planning Attorney

Compliance Officer

Family Office Manager

Private Banking Relationship Manager

Legal Document Specialist

Notary Public

Translation Officer

Islamic Finance Advisor

Trust Officer

Financial Advisor

Corporate Lawyer

Legal Documentation Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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