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What is an act of donation in Louisiana property?

A conditional dona- tion for public purposes may be revoked for non-fulfillment of the condition even though the act of donation did not expressly provide for revocation if the condition were breached.

How does an act of donation work in Louisiana?

Getting a notarized Act of Donation is legal proof of said donation. In other words, a written Act of Donation form certifies that the item or property was transferred freely without any form of payment in return. This protects both the donor and donee over any disputes of ownership in the future.

Can an act of donation be revoked?

An act of donation (also known simply as a donation) formalizes the transfer of property from one person to another, without any monetary consideration in exchange, and generally includes the date, donor and donee information, description of the property, and any conditions or restrictions on the donation.

Can you donate a house to a family member in Louisiana?

Determining the value of donated property depends upon many factors. You should consider all the facts and circumstances connected with the property, including any recent transactions, in determining value. Value may also be based on desirability, use, condition, scarcity, and market demand for that property.