gift
Section 122 of the Transfer of Property Act, 1882 defines a gift as the transfer of existing movable or immovable property made voluntarily and without consideration by the donor to the donee, and accepted by or on behalf of the donee. Acceptance must be made during the donor's lifetime and while he is still capable of giving; if the donee dies before accepting, the gift is void.
A gift of immovable property must be made by a registered instrument signed by the donor and attested by at least two witnesses (s.123); movables may be gifted by such an instrument or by delivery. A gift of future property is void (s.124). A gift can be revoked only in the cases s.126 allows. These rules do not apply to gifts under Muslim law (hiba) or to donatio mortis causa (s.129).
Example
An unregistered gift deed of a house is ineffective under s.123, even if the donee has moved in.
In Indian law
- Sections 122–129, Transfer of Property Act, 1882
See also
hiba · donatio mortis causa · transfer of property · registration
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