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Gifting is when you transfer your property to another person or organization.
Gifting expresses love and affection, and also serves other purposes and benefits for the person making the gift.
When you want to gift your Real Property (houses, apartments, vacation homes, rental homes, and land) and/or other property (stocks, bonds, certificate of deposit, mutual funds, cash etc.) to your children, loved ones, or Non Profit Organizations, there are various plans that would satisfy your wishes and needs.
You can transfer ownership of your real property directly to someone and at the same time, you can reserve the right to live in gifted property until you die. This is referred to as a Life Estate Interest.
You can also transfer ownership of real property to an Irrevocable Trust with added protection given to your Trustee.
A Deed is the legal document that allows you to make the transfer real property.