An Arkansas Gift Deed is required when a person wants to gift or donate valuables such as money or property to another person or party, and is not expecting to be paid in return. This type of deed will contain several stipulations about how the deed will be managed by the receiver (known as the grantee), where it will need to be delivered, and the specific language used. It is very important that all information written in the gift deed documentation is clear to avoid potential legal disagreements in the future. For a transfer of property to be deemed valid in the state, two witnesses will be required at the signing of the deed, including a notary (A.C.A. 18-12-104). Additional federal taxes may be due depending on the value of the property.
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