Gift Agreement for Real Estate

Description

A gift agreement is a contract by which the parties formally regulate a situation in which one party transfers certain assets to another party as a gift, and the receiving party accepts such assets.
A gift agreement must be concluded in written form or the gift must be physically delivered.

In the case of real estate, a gift agreement must always be concluded in written form. Additionally, it is important to note that ownership rights are transferred to the recipient only once they are registered as the owner in the Land Register.

Standard practice is that a real estate gift agreement also includes a Land Registry authorization clause (land register consent). In such cases, the donor’s signature on the agreement must be notarized.

If the gift agreement does not include the Land Registry authorization, this document must be prepared and submitted separately. In that case, only the signature on the Land Registry authorization must be notarized (while notarization of the signature on the gift agreement itself is not required).