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Gift

 

  1. Section 122. Gift. The Transfer of Property Act, 1882 – Section 122 gives the definition of gift. It is a gratuitous transfer of ownership made voluntarily with own consent for an existing property. The section includes both movable and immovable property. Here, under this section, the transferor is called donor and the transferee is called donee.

      Essential Elements of Gift:

  • Transfer of Ownership: It is a gratuitous transfer of ownership i.e., absolute interest. The donee must disposes  the property himself to the donor.

  • Existing Property: The property or the gift which is gratuitous in nature must be in existence to transfer.

  • No Consideration: The transfer should be made gratuitously that means without any consideration. In gift, there should not be any consideration otherwise it is not a valid gift.

  • Voluntarily: The gift, which the donor wants to transfer donee must not be obtain without his free consent and will. The gift must be maid voluntarily by the donor only.

  • Acceptance: It is necessary, that the donee accept the gift with his/ her own consent. Using force is not a valid option in a gratuitous transfer.

  • Case Law: Sumitra v. State, in this case the court held that if the gift is accepted by the donee, then it was not invalidated by the death of the donor.

Modes of making gift ( Section 123):Depending the nature of property, it lays down two modes–

  • Immovable Property:Where the property is immovable, it is necessary that the registration is done . The value of property, should not matter.

Case Law: Gomitabai v. Muttulal, the court held that the gift of transfer of immovable property is incomplete, if the registration or written instrument is not done by donor. 

  • Movable Property:In case, the nature of property is movable, the registration is optional not compulsory.

  • Section 124.Gift of existing and future property. This section says that when there are types of property where one is in the present and the other one is in future then the whole gift is not void only the future part is.

  • Section 125. According to this section, gift can be made to several persons at one time but one condition is that the gift must accept by all.

  • Section 126. Gift may be suspended or revoked. As per this section, the donor can make a gift certain to some conditions and when those conditions are not fulfilled he may suspend or revoke the gift as per his convenience. These conditions must adhere to section 126. There are two modes of revocation of gift–

  • Revocation by mutual agreement

  • Revocation by rescission.

  • Section 127.Onerous Gift. This section provides that if there are two properties and one is beneficial and other one is in loss, then donee cannot be allowed to accept the beneficial part of gift and reject the onerous one.

  • Section 128.Universal Donee. If the donor’s gift consists of his whole property then the donee is liable for all the debts and liabilities of that property only to the extend to the property that is within the gift.

  • Section 129.provides gifts which are exception to the whole chapter of gift–

  • Hiba i.e., where the donor is muslim.

  • Gift of movable property made in contemplation of death.

 
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