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Gift
Deed.
A
deed which is given to another with no consideration other
than love or affection.
For
instance, John gives a property by deed to his niece upon
graduation from college. This gift is contingent upon no
circumstances. This would be a gift deed. In some
cases, an owner, facing bankruptcy, will deed the property to
a spouse in order to remove the property from creditor's
reach. In this case, the deed would more than likely be
questioned and refused as a gift deed.
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