Structure
The Louisiana Act of Donation Form plays a crucial role in the transfer of property without the exchange of monetary compensation. This legal document allows individuals to donate property, whether it be real estate, personal belongings, or financial assets, to another party. It outlines the specifics of the donation, including the identification of both the donor and the recipient, a detailed description of the property being donated, and any conditions or stipulations tied to the transfer. By using this form, donors can ensure that their intentions are clearly documented, providing a safeguard against potential disputes in the future. The act also emphasizes the voluntary nature of the donation, reinforcing that no coercion is involved. Understanding the nuances of this form is essential for anyone considering making a donation in Louisiana, as it not only protects the rights of both parties but also adheres to state laws governing such transactions.
Sample - Louisiana act of donation Form
ACT OF DONATION OF A MOVABLE
PARISH OF _______________________
STATE OF LOUISIANA
BEFORE ME, the undersigned notary public, duly commissioned and qualified in and for the parish and state aforesaid, and before the undersigned competent witnesses, personally came and appeared:
______________________________________________________________
Donor, of legal age, who hereby donates and delivers with full and general warranty of title unto:
______________________________________________________________
Donee, of legal age, who hereby accepts the within donation of the following described movable property:
Make: __________
Model: __________
Year: __________
VIN: _____________________________
The relationship between Donor and Donee is as follows:
________________________________________________________________
The value of the movable property donated herein is $_____________________.
Donor warrants that there are no mortgages, liens, or encumbrances of any kind against the movable property donated or any accessories attached thereon.
SIGNED on this ___________ day of _____________________, 20____. |
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WITNESSES: |
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_______________________________________ |
_______________________________________ |
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Donor |
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_______________________________________ |
_______________________________________ |
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Donee |
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________________________________________________________ |
_________________ |
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Notary Public Signature/Printed Name |
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Notary ID # |
(R 04/09)
Form Characteristics
| Fact Name | Description |
|---|---|
| Definition | The Louisiana Act of Donation form is a legal document used to transfer ownership of property or assets from one person to another as a gift. |
| Governing Law | This form is governed by the Louisiana Civil Code, specifically Articles 1466 to 1475, which outline the rules for donations. |
| Types of Donations | Donations can be inter vivos (during the donor's lifetime) or mortis causa (upon the donor's death). |
| Requirements | The donor must have the legal capacity to make a donation, and the donation must be accepted by the donee. |
| Formality | For certain donations, the form must be executed in writing and may need to be notarized to be legally binding. |
| Tax Implications | Donations may have tax implications for both the donor and the donee, including potential gift tax responsibilities. |
| Revocation | Under specific circumstances, a donation can be revoked by the donor, especially if certain conditions are not met. |
| Property Types | The form can be used for various types of property, including real estate, personal property, and financial assets. |
| Legal Advice | It is advisable for both parties to seek legal advice before completing the Act of Donation to ensure compliance with all legal requirements. |
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