INTRODUCTION
The gift is the transfer of certain existing moveable or immovable property made voluntarily and without consideration by one person called the donor to another called the donee, and accepted by or on behalf of the donee. A gift can also be revoked.
RELEVANT PROVISIONS
Section 122 to 128 of the Transfer of Property Act 1882.
LITERAL MEANING
The act of voluntarily transferring property without compensation (consideration).
DEFINITION OF GIFT
The gift is the transfer of certain existing moveable or immovable property made voluntarily and without consideration by one person called the donor to another called the donee, and accepted by or on behalf of the donee.
Acceptance when to be made: Such acceptance must be made during the lifetime of the donor and while he is still capable of giving If the donee dies before acceptance the gift is void.
OBJECT OF WILL
The object of the will is to distribute the balance of the estate by the known or presumed intention of the deceased.
ESSENTIALS OF A VALID GIFT
The essentials of a valid gift are under
1. Parties
There are two parties in the gift, one is called Donor and the other is called Donee.
2. Subject Matter
The subject matter of the gift may be moveable or immovable property. But the subject matter of things must be in existence. The subject matter may be immovable property or goods or an actionable claim.
3. Existing Property
Such property must exist at the time of the gift.
4. Without Consideration
Property is made without consideration.
5. Made Voluntarily
The transfer by gift should be made voluntarily.
6. Acceptance
There must be acceptance of the gift. Acceptance must be made during the lifetime of the donor.
TRANSFER HOW EFFECT
In the case of Immoveable Property: To make a gift of immoveable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses.
In Case of Moveable: To make a gift of immovable property, the transfer may be effected either by a registered instrument signed as aforesaid or by delivery. Such delivery may be made the same way as goods sold may be delivered.
GIFT OF EXISTING AND FUTURE PROPERTY
A gift comprising both existing and future property is void as to the letter.
GIFT OF SEVERAL OF WHOM ONE DOES NOT ACCEPT
A gift of a thing to two or more donee of whom one does not accept it is void as to the interest which he would have taken had he accepted.
WHEN GIFT MAY BE SUSPENDED OR REVOKED
- The donor and donee may agree that on the happening of any specified event, which does not depend on the will of the donor, a gift shall be suspended or revoked Sut a gift which the parties agree shall be revocable wholly or in part at the mere will of the donor is void wholly or in part as the case may be if it were a contract it might
- A gift may also be revoked in any of the cases in which be rescinded
- Save as aforesaid, a gift can not be revoked
- Nothing contained in the section shall be deemed to affect the right of transferees for consideration without notice
ILLUSTRATION:
A gives a field to B reserving to himself with B’s assent, the right to take back the field in case B and his descendants die before A B dies without descendants in A’s lifetime. A may take back the field A gives lakh of rupees to B. reserving to himself with B’s assent, the right to take back at pleasure Rs 10000 out of the lakh. The gift holds good as to Rs. 90000 but is void as to the 10000 which continues to belong to A.
ONEROUS GIFT
Where a gift is in the form of a single transfer to the same person of several things of which one is and the other is not burdened by an obligation, the donee can take nothing by the gift unless he accepts it fully.
CONCEPT OF GIFT UNDER MUSLIM LAW
Under Muslim Law, a Gift has the following three essentials.
- Declaration of gift by the donor
- Delivery of possession
- Acceptance by donee
CONCLUSION
It is concluded that a gift is an unconditional transfer of property, made immediately and without any exchange or consideration by one person to another person and accepted by or on behalf of the latter. The gift under Islamic Law and the gift under transfer of property are different in many ways.
FAQs
What is the law relating to gifts as provided in the Transfer of Property Act, of 1882?
(2019-A)
Write a detailed note on “Gift” as provided in the Transfer of Property Act, 1882.
(2018-A, 2013-A)
Write a comprehensive note on the transfer of property by “Gift”.
(2012-A, 2011-A, 2009-S)
Define Gift. How is the transfer of property affected by gift? In what way it is different from a gift under Islamic Law?
