Yes, you must sign your Gift Deed with two witnesses to ensure it’s enforceable. A witness must be a third party who isn’t benefitting in any way from the gift. For example, you should not use the gift recipient's spouse or children as witnesses.
A Gift Deed doesn’t need to be notarized for it to be legally binding. However, notarizing your Gift Deed can be an extra step that further validates your intention to give a gift.
Depending on local laws and the gift type, recording the Gift Deed with the appropriate government authority, such as the county recorder's office, may be necessary to provide public notice of the transfer.