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Q.10 Explain the term gift under Transfer of Property Act?

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Q.10 Explain the term gift Article Details

under Transfer of Property
Article ID: 813
Act?
Category: Civil Laws

GIFT:
Rating :
The term gift is defined in section 122 and 123 of the
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Transfer of Property Act. Gift is a transfer of
property, this transfer is such transfer in which no
consideration is involved and basic element of the
gift is an absence of consideration. The one can Related articles
transfer his/her movable or immovable property
What is Gift?
through a gift deed. Like a sale deed, a gift deed
contains the details of the property, the transferor What is essential element of a Gift?
and the recipient. A gift can also be canceled.
Furthermore, the term gift is a transfer of any Who legally owns a gift?
moveable or immovable property made voluntarily
Can a minor gift property?
and without consideration by one person to another
person is known as gift. What is a valid gift?

PARTIES OF GIFT:

There are two parties in order to complete the gift.

One is the donor and another is done. The donor is a
person who donates his property as a gift to another
without any consideration, on the other hand the
donee is the person to whom the property is being
donated.
ESSENTIALS :

Following are the essentials of the valid gift which

are as under:

NUMBER OF PARTIES:

There must be two parties for validity of gift deed.

Where the one party is donor and another is donee.

SUBJECT MATTER OF GIFT:

The subject matter of the gift should be any

moveable or immovable property and the property
should be exist at the time of gift.

NO CONSIDERATION:

The transfer of the property as a gift should be

without consideration if such transfer is being made
for any amount, in this case it will not be a valid gift.

VOLUNTARILY:

The transfer of the property as a gift should be

voluntarily, if the donor has transferred his property
under undue influence in this case, it will not be a
valid gift.

ACCEPTANCE:

The transfer of the property as a gift must be

accepted during the life time of the donor, if the
property is being accepted after the death of the
donor in this case it will not be a valid gift.

REVOCATION OF GIFT:

Under Transfer of Property Act the gift can be

revoked due to many reasons. Following are the
reasons where the donor can revoke the gift even
after delivery of possession of property.

When the gift is given under undue influence.

When the gift is given by the

misrepresentation.

When the gift is taken fraudulently.

When the thing given is lost or destroyed.

When the donor has received something in the

exchange of a gift.

When the donee is dead.

When the gift is made by a husband to his wife

or by a wife to her husband.

This FAQ is prepared by

Advocate Sadia Saman

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