What is a Gift?
What is a Gift?
Definition of Gift– In legal terms, a gift is a voluntary transfer of property or assets from one person (the donor) to another (the donee) without any consideration (payment or compensation). A gift must be made with the donor’s free will and full knowledge, and the donee must accept it.
Essential Elements of a Valid Gift:
- Voluntary Transfer – The donor must give the gift willingly, without coercion, fraud, or undue influence.
2. Existing Property – The subject matter of the gift must be an existing movable or immovable property.
3. Acceptance by Donee – The donee must accept the gift during the donor’s lifetime.
4. No Consideration – A gift is always gratuitous and cannot be in exchange for money or other benefits.
5. Transfer of Ownership – The donor must completely divest themselves of ownership in favor of the donee.
Gift Deed – A legal document that transfers immovable property as a gift, requiring registration.
In legal terms, a gift is a voluntary transfer of property, assets, or rights from one person (the donor) to another (the donee) without receiving anything of value in return. For a gift to be legally valid, it must meet specific criteria, which vary slightly by jurisdiction but generally include:
Key Elements of a Valid Legal Gift:
- Donor Capacity: The donor must have the legal capacity to make the gift (e.g., be of sound mind, not a minor, and not under duress or undue influence).
2. Intent to Give (Donative Intent): The donor must intend to transfer ownership permanently and irrevocably, with no expectation of compensation or return.
3. Delivery: The gift must be delivered to the donee (physically or symbolically).
For example:
Handing over a car title (constructive delivery).
Giving keys to a house (symbolic delivery).
Mere promises to give in the future are not enforceable gifts.
4. Acceptance: The donee must accept the gift (courts often presume acceptance unless explicitly rejected.
Disclaimer: This article is for educational and informational purposes only. It provides a general understanding of legal remedies but does not constitute legal advice. For specific legal guidance, you can just consult the legal matter expert.
