Gift from mother to son

Hello All,

I had purchased some real-estate property a long time ago.  As I was out of the country at that time, I had my mother purchase it in her name.

Now we have decided to sell the property.  Its obvious that the purchaser will pay my mother in the form of a DD.

Now the question is how to get that money from my mother to me?  Should we go for a gift deed?  What other paper work, if any is needed?

I am planning to keep the money in bank(s) on term/fixed deposits.  Do banks require any additional paper work?

Appreciate the answers.

-Chandra