Gift Deed - Iowa

IMPORTANT LEGAL NOTICE
This Gift Deed conveys real estate as a gift for natural love and affection, without monetary consideration. Iowa imposes no real estate transfer tax when there is no consideration (Iowa Code § 428A.1(1)(a)(1)). A Declaration of Value is not required when an exemption listed in § 428A.2 and cross-referenced in §§ 428A.1(2) and 428A.4(2) applies; a zero-consideration deed ordinarily falls within the $500-or-less exemption in § 428A.2(21), and certain spouse or parent-child deeds also fall within § 428A.2(11). Independently, if none of the conditions listed in § 558.69(1) is known to be present, the deed must carry the complete § 558.69(8)(a) groundwater-hazard certification on its first page. A transfer to a married couple vests as a joint tenancy unless otherwise stated (Iowa Code § 557.15). The donee generally takes the donor's carryover basis under 26 U.S.C. § 1015. Obtain title advice and consider title insurance.

GIFT DEED

State of Iowa

[3-INCH TOP MARGIN REQUIRED FOR RECORDING INFORMATION]

RECORDING INFORMATION

After Recording Return To:

Name: ________________________________________
Address: _____________________________________
City, State, ZIP: _____________________________

Address Tax Statement To:

Name: ________________________________________
Address: _____________________________________
City, State, ZIP: _____________________________

Prepared By:

Name: ________________________________________
Address: _____________________________________
Iowa Bar No. (if attorney): ___________________

PROPERTY INFORMATION

GROUNDWATER HAZARD CERTIFICATION (Iowa Code § 558.69(8)(a))

If none of the conditions listed in Iowa Code § 558.69(1) is known to be present, § 558.69(8)(a) requires the following complete statement on the first page of the deed in lieu of a separate Groundwater Hazard Statement:

"There is no known private burial site, well, solid waste disposal site, underground storage tank, hazardous waste, or private sewage disposal system on the property as described in Iowa Code section 558.69, and therefore the transaction is exempt from the requirement to submit a groundwater hazard statement."

☐ The above certification is true (no conditions present); no Groundwater Hazard Statement is filed.

☐ A condition IS present — do not use the no-condition certification; complete the current required disclosure and confirm the recorder's filing procedure.

TRANSFER TAX EXEMPTION (Iowa Code 428A)

Exemption Claimed (Iowa Code 428A.4)

☐ No consideration — no tax under Iowa Code § 428A.1(1)(a)(1); Declaration of Value exemption claimed under § 428A.2(21) because consideration is $500 or less.
☐ Deed between spouses or between parent and child, without actual consideration — Iowa Code § 428A.2(11).
☐ Other deed with consideration of $500 or less — Iowa Code § 428A.2(21).
☐ Other exemption: ________________________________

This instrument is excepted from the real estate transfer tax. Signed: ________________________ (grantor/grantee or agent, per Iowa Code 428A.4).

PARTIES AND RELATIONSHIP

GRANTOR (Donor / Current Owner):

Name: [GRANTOR FULL LEGAL NAME]

Mailing Address: [FULL ADDRESS]

Marital Status:
☐ A single person
☐ A married person, spouse joining
☐ A married person, conveying separate property

Entity Type (if applicable):
☐ An Iowa limited liability company
☐ An Iowa corporation
☐ A [State] limited liability company registered in Iowa
☐ A [State] corporation registered in Iowa
☐ Trustee of [Trust Name]

GRANTEE (Donee / New Owner):

Name: [GRANTEE FULL LEGAL NAME]

Mailing Address: [FULL ADDRESS]

Relationship to Grantor: ☐ Child ☐ Grandchild ☐ Spouse ☐ Parent ☐ Sibling ☐ Other: __________ ☐ No family relationship

Manner of Holding Title:

NOTE: Per Iowa Code 557.15(2)(a), a conveyance identifying two grantees as married to each other creates a REBUTTABLE PRESUMPTION of joint tenancy with right of survivorship, unless a contrary intent is expressed in the deed.

☐ As a single person
☐ As husband and wife (vests as joint tenancy per IC 557.15)
☐ As joint tenants with right of survivorship
☐ As tenants in common (____% and ____%) — MUST BE EXPRESSLY STATED
☐ As an Iowa limited liability company
☐ As an Iowa corporation
☐ As Trustee of [Trust Name]

CONVEYANCE (GIFT)

Consideration — Natural Love and Affection

This conveyance is a GIFT, made for and in consideration of the natural love and affection the Grantor holds for the Grantee, and for no monetary consideration. No money or other valuable consideration has been or will be paid by the Grantee.

Granting Clause

KNOW ALL PERSONS BY THESE PRESENTS:

That [GRANTOR NAME] ("Grantor"), of [COUNTY] County, Iowa, in consideration of natural love and affection and without monetary consideration, does hereby GIVE, GRANT, AND CONVEY unto [GRANTEE NAME] ("Grantee"), as a present and irrevocable gift, the following described real estate situated in [COUNTY] County, Iowa, to-wit:

See Exhibit A attached hereto and incorporated herein by reference (the "Property")

Source of Title

This property was acquired by Grantor by [WARRANTY DEED/QUIT CLAIM DEED/OTHER] dated _________________, 20_____, recorded in Book _____, Page _____ (or Document No. _____________), in the Office of the County Recorder of [COUNTY] County, Iowa.

Property Conveyed

TOGETHER with all the tenements, hereditaments, and appurtenances thereunto belonging, including:

☐ All improvements, buildings, structures, and fixtures
☐ All easements and rights-of-way appurtenant to the Property
☐ All rights in streets, alleys, and ways adjoining the Property
☐ All mineral rights (unless excepted below)

Habendum Clause

TO HAVE AND TO HOLD the same, together with all appurtenances thereunto belonging, unto the said Grantee, and Grantee's heirs and assigns forever, as the Grantee's own property.

WARRANTY ELECTION

The Grantor makes the following election as to warranty of title (check one):

☐ SPECIAL WARRANTY (against Grantor's own acts). Grantor covenants that Grantor has not encumbered the Property and will WARRANT AND DEFEND the title against the lawful claims of all persons claiming by, through, or under Grantor, but not otherwise.

☐ QUITCLAIM (no warranty). Grantor conveys only such right, title, and interest as Grantor may have, WITHOUT WARRANTY of title, express or implied.

NOTICE: A gift deed provides the donee no purchase-money title protection. An owner's title insurance policy is strongly recommended.

EXCEPTIONS

This conveyance is made and accepted SUBJECT TO:

Standard Exceptions

☐ Real estate taxes and special assessments not yet due and payable
☐ Building and zoning ordinances and regulations
☐ Easements and restrictions of record
☐ Highway and road rights-of-way
☐ Rights of parties in possession

Existing Mortgage / Lien

☐ None — the Property is conveyed free of any mortgage or monetary lien created by Grantor.

☐ The Grantee takes the Property SUBJECT TO the following mortgage/lien (Grantee ☐ does ☐ does not assume):
[MORTGAGE/LIEN HOLDER], recorded in Book _____, Page _____ (or Doc. No. _____)

Specific Exceptions

1. [SPECIFIC EXCEPTION] — Book _____, Page _____ (or Doc. No. _____), [COUNTY] County Records
2. [SPECIFIC EXCEPTION] — Book _____, Page _____ (or Doc. No. _____), [COUNTY] County Records

☐ See Exhibit B for additional exceptions

FEDERAL GIFT TAX AND BASIS NOTICE

Federal Gift Tax (26 U.S.C. 2501 et seq.; IRS Form 709)

This conveyance may be a taxable gift. The Grantor (donor) generally must file IRS Form 709 if the gift to any one donee in the calendar year exceeds the annual exclusion, and the gift may reduce the Grantor's lifetime gift and estate tax exemption. These amounts are adjusted annually by the IRS.

Carryover Basis (26 U.S.C. 1015)

The Grantee generally takes the Grantor's adjusted cost basis (carryover basis) for property acquired by gift, which affects future capital-gains tax. Consult a tax advisor.

GRANTOR REPRESENTATIONS

☐ Grantor has full power and authority to convey the Property
☐ If entity: Grantor is duly organized, validly existing, and in good standing
☐ Grantor is not a "foreign person" as defined in 26 U.S.C. 1445 (FIRPTA), OR ☐ Grantor is a foreign person and FIRPTA may apply

DELIVERY AND ACCEPTANCE

The Grantor delivers this Gift Deed with present intent to make an irrevocable gift. The Grantee accepts this gift of the Property.

________________________________________
[GRANTEE NAME] — Acceptance of Gift           Date: _______________

EXECUTION

IN WITNESS WHEREOF, Grantor has set Grantor's hand this _____ day of _________________, 20_____.

GRANTOR SIGNATURE(S)

Individual Grantor:

________________________________________
[GRANTOR NAME]

Spouse of Grantor (if joining):

________________________________________
[SPOUSE NAME]

Entity Grantor:

[ENTITY NAME]

By: ____________________________________
Name: __________________________________
Title: _________________________________

ACKNOWLEDGMENT (Iowa Code Chapter 9B and 558.20)

NOTE: Iowa does NOT require witnesses for deeds — only notarization is required.

Individual Acknowledgment (Iowa)

STATE OF IOWA           )
                        ) SS
COUNTY OF _____________ )

On this _____ day of _________________, 20_____, before me, the
undersigned, a Notary Public in and for the State of Iowa, personally
appeared ____________________________________________, to me known to be
the identical person(s) named in and who executed the foregoing
instrument, and acknowledged that he/she/they executed the same as
his/her/their voluntary act and deed.

________________________________________
Notary Public in and for the State of Iowa
Print Name: ____________________________
My Commission Expires: _________________

[NOTARY SEAL]

Entity Acknowledgment (Iowa)

STATE OF IOWA           )
                        ) SS
COUNTY OF _____________ )

On this _____ day of _________________, 20_____, before me, the
undersigned, a Notary Public in and for the State of Iowa, personally
appeared ____________________________________________, to me personally
known, who being by me duly sworn, did say that he/she is the
_________________________ [title] of _________________________________
[entity name], a _________________________ [type of entity], and that
said instrument was signed on behalf of said entity by authority of its
governing documents, and said _________________________ acknowledged the
execution of said instrument to be the voluntary act and deed of said
entity, by it and by him/her voluntarily executed.

________________________________________
Notary Public in and for the State of Iowa
Print Name: ____________________________
My Commission Expires: _________________

[NOTARY SEAL]

EXHIBIT A - LEGAL DESCRIPTION

Property Address:
[STREET ADDRESS]
[CITY], Iowa [ZIP]

Parcel Identification Number: [NUMBER]

Legal Description:

[INSERT COMPLETE LEGAL DESCRIPTION]

Example formats:

• Lot ___, [SUBDIVISION NAME], an Official Plat, now included in and forming a part of the City of [CITY], [COUNTY] County, Iowa.
• The [DIRECTION] [FRACTION] of the [DIRECTION] [FRACTION] of Section ___, Township ___ North, Range ___ [East/West] of the 5th P.M., [COUNTY] County, Iowa.
• [METES AND BOUNDS DESCRIPTION]

County: [COUNTY], Iowa

EXHIBIT B - SPECIFIC EXCEPTIONS (If Applicable)

[List all specific encumbrances, liens, easements, and restrictions that remain after the gift]

1. ________________________________________________________________
2. ________________________________________________________________

IOWA RECORDING REQUIREMENTS

Filing Information

• Filing Office: County Recorder, [COUNTY] County, Iowa
• Recording Fee: Varies by county (typically $7 first page, $5 each additional page; verify locally)
• Transfer Tax: $0.00 — no consideration (Iowa Code 428A.1(1)(a)(1))

Document Requirements (Iowa Code 558)

☐ 3-inch minimum top margin for recording information
☐ Dated instrument; notarized acknowledgment (dated)
☐ Original signatures with typed/printed names below
☐ Complete no-condition certification on the first page under Iowa Code § 558.69(8)(a), or the current required disclosure if a listed condition is present
☐ Statement of exemption from transfer tax (Iowa Code 428A.4)
☐ Complete legal description
☐ Address for tax statement
☐ Legible and reproducible; corporate seal if applicable

Statutory References

• Iowa Code Chapter 558 — Conveyances
• Iowa Code 557.15 — Joint tenancy for married couples
• Iowa Code 428A.1(1)(a)(1) — no tax when no consideration
• Iowa Code 428A.2(11) — parent/child without consideration exemption
• Iowa Code 428A.4 — recording; exemption statement
• Iowa Code § 558.69 — Groundwater Hazard Statement / § 558.69(8)(a) certification
• Iowa Code Chapter 9B — Uniform Law on Notarial Acts

TITLE INSURANCE NOTICE

IMPORTANT: A gift deed gives the donee no purchase-money title protection. Grantee is STRONGLY ADVISED to obtain an owner's policy of title insurance from a licensed title insurance company.

☐ Grantee acknowledges receipt of this recommendation

END OF GIFT DEED

Iowa Code Chapter 558