What are the essentials of Valid Gift according to Transfer of property Act 1882? | Indian property Act

The concept of Gift is mostly found in all the religion. In Sanatan Hindu dharma (a 5000 years old civilization) during the marriage the father of the bride Gift his daughter as a gift to the groom (Kanya dan). In Islam there also exists the concept of gift. It is known as Hiba. The concept of Gift is same for all the religion. 

   The Indian Transfer of Property Act 1882 also follows the same principle of Gift. The Act was enacted during the British period. Time to time different sections of the Act was amended by Parliament. The Statute definition and essential characteristics of the GIFT is described below.

Transfer of Property Act Gift definition[Section 122]

Section 122 of Transfer of Property Act 1882 states about the definition of GIFT. It states-

“Gift” is the transfer of certain existing moveable or immoveable 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.

What are the essentials of Valid Gift according to Transfer of property Act 1882?

1. Transfer of ownership

2. The property must be existing (future property no considered)

3. Property must be transferable

4. Transfer of ownership

5. Property can be movable or immovable

6. Transfer must be voluntarily

7. Property must be transferred without consideration

8. There must be an acceptance by the done or on behalf of the donee.

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