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Gift

A gift, as defined by Section 122 of the Transfer of Property Act, is the voluntary transfer of existing movable or immovable property without consideration, where the donor is the transferor and the donee is the transferee. Essential elements of a gift include the transfer of ownership, existing property, voluntary transfer with free consent, and acceptance by the donee. Future property cannot be gifted, and the donee must accept the gift for it to be valid.

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11 views2 pages

Gift

A gift, as defined by Section 122 of the Transfer of Property Act, is the voluntary transfer of existing movable or immovable property without consideration, where the donor is the transferor and the donee is the transferee. Essential elements of a gift include the transfer of ownership, existing property, voluntary transfer with free consent, and acceptance by the donee. Future property cannot be gifted, and the donee must accept the gift for it to be valid.

Uploaded by

shubhankar mishra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Gift

 Section 122 of Transfer of Property Act defines a gift as the


transfer of an existing moveable or immovable property. Such
transfers must be made voluntarily and without consideration.
 The transferor is known as the donor and the transferee is called
the donee. The gift must be accepted by the donee.

Essential elements
1. Transfer of Ownership

2. Existing property

The property, which is the subject matter of the gift may be


of any kind , movable, immovable, tangible, or intangible,
but it must be in existence at the time of making a gift, and it
must be transferable within the meaning of Section 5 of the
Transfer of Property Act.

Gift of any kind of future property is deemed void.

3. Transfer without consideration

A gift must be gratuitous, i.e., the ownership in the property


must be transferred without any consideration. Even a
negligible property or a very small sum of money given by
the transferee in consideration for the transfer of a very big
property would make the transaction either a sale or an
exchange.

4. Voluntary transfer with free consent


The donor must make the gift voluntarily, i.e., in the exercise
of his own free will and his consent as is a free consent. Free
consent is when the donor has the complete freedom to
make the gift without any force, fraud coercion, and undue
influence.
The burden of proving that the gift was made voluntarily
with the free consent of the donor lies on the donee.

5. Acceptance of gift

The donee must accept the gift. Property cannot be given to


a person, even in gift, against his/her consent. The donee
may refuse the gift as in cases of non- beneficial property or
onerous gift.
Onerous gifts are such where the burden or liability exceeds
the actual market value of the subject matter. Thus,
acceptance of the gift is necessary.

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