Gifts and Delivery of Possession: A Study
7 Pages Posted: 4 Apr 2016
Date Written: April 2, 2016
Abstract
Sec 122 of the Transfer of Property Act defines a gift which has the following essential requisites: i) There must be a transfer of ownership of a property; ii) The property should be of existing property; iii) The transfer should be voluntary; iv) It shall be without consideration; v) It can be of movable or immovable property; vi) The transfer should be accepted by the Donee from the Donor; vii) The acceptance of the transfer must be during the life-time of the donor and he must be still capable of giving.
In the event of the donor dying before acceptance, the gift is void.
Keywords: Dr Mukund Sarda New law College Pune, Dr Mukund Sarda Bharati Vidyapeeth University, Bharati Vidyapeeth University Pune, Prof Dr Mukund Bhagirath Sarda
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