Louisiana Act of Donation Real Estate from Individual to Husband and Wife
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FAQ
In Louisiana, giving away some of your surplus to a friend, relative or charitable organization is a simple matter of completing a form called an Act of Donation and having it notarized. The process is relatively quick and easy, but it does have potential tax implications.
Yes you can sell it, it is your property now and you can do anything you deem fit. A gift deed cannot be conditional.Basically a gift deed with conditions is not valid in law. Donor cannot cancel the registered gift deed unilaterally .
Act of Donation Forms LouisianaAct of Donation. To donate a thing or right to another person is to transfer such thing or right to another person without an exchange or payment. In other words it is the giving of something to another without receiving anything of value in return.
Property ownership in Louisiana is voluntarily transferred by a contract through the owner and the transferee. A transfer of real (immovable) property can be made by authentic act or by an act under private signature duly acknowledged (CC1839 Art. 1839).
In Louisiana, giving away some of your surplus to a friend, relative or charitable organization is a simple matter of completing a form called an Act of Donation and having it notarized.
The gift cannot ever be revoked nor can you later ask for financial compensation. Disadvantages of a Gift Deed? Usually a Gift Deed is used to transfer property between family members. As a result, the transaction may be subject to coercion or fraud.