How to gift a property to your spouse

Gifting a property to your spouse involves a voluntary transfer without consideration of money. Here are the steps:

1. Draft a Deed of Gift: This legal document must be prepared by a lawyer.
2. Lifetime Gift: The gift can be a present or future interest made and delivered during the donor's lifetime.
3. Testamentary Gift: Alternatively, the gift can be made by will, becoming effective only after the donor's death.

If the donor becomes bankrupt within 2 years from the date of the Deed of Gift, the gift becomes void against the Official Assignee. Up to 5 years, the gift is voidable at the option of the Official Assignee, unless evidence of the donor's solvency at the date of the gift is provided.

Ensure all legal formalities are followed to make the gift valid and binding.