Act of Donation
About This Doc
An act of donation (also known simply as a ‘donation’) formalizes the transfer of property from one person to another, without any monetary consideration in exchange, and generally includes the date, donor and donee information, description of the property, and any conditions or restrictions on the donation.
(9to5 Act of Donation forms currently only apply to personal (movable) property)
An Act of Donation is generally used when there is an item of value being gifted, such that no compensation for the item is being received in return.
9to5 currently has Act of Donation forms available for personal (movable) property depending on the type of property being donated:
Motor Vehicle – any type of motor vehicle (for example: a car, motorcycle or boat).
Boat or Watercraft – any type of boat, motor and/or watercraft.
Boat or Utility Trailer – a boat trailer or utility trailer.
LLC Membership Interest or Units – an ownership interest (or units) in an LLC.
Partnership Interest or Units – an ownership interest (or units) in a partnership.
Corporate Stock – shares of stock in a corporation.
Single & Multiple Assets – other types of personal (movable) property, either a single item or multiple items.
An Act of Donation generally include: the parties (people or entities) involved, description of the asset(s), statement of intent to donate by donor, acknowledgement of acceptance by donee,any liens or other encumbrances on the property, any representations and warranties by donor relating to the property, governing state law and date and signatures of donor and donee.
See our Resources Section for more detailed information on an Act of Donation, including types of assets, documentation, typical information included, some examples of use of the forms, external reference resource links and other related information.
Please consult with a lawyer to ensure compliance in your jurisdiction.