(S
122-129 OF TRANSFER OF PROPERTY ACT)
Gift
defined ( S 122)
A
gift is the transfer:
-
of certain existing movable or immovable property,
-made
1) voluntarily,and
2)without consideration,
-
by one person called the donor to another called the donee,and
-
accepted by or on behalf of donee.
Such
acceptance must be made during the life-time of donor,and while he is
still capable of giving. If the donee dies before acceptance,the gift
is void.
A
gift of
a)
immovable property must be effected by a registered instrument,signed
by or on behalf of the donor,and attested by at least two witnesses.
b)
Movable property may be effected either by registered instrument
signed and attested as above or by delivery.
Requisites
of a valid gift-
1)
There should be a donor and a donee.
2)
Subject matter of gift must be certain and existing and capable of
transfer.
3)
The gift should be made voluntarily and without consideration.
4)
There should be a transfer on the part of donor.
5)
There should be an acceptance by or on behalf of donee during his
life-time.
6)
The acceptance must be at a time when the donor is alive and capable
of giving.
7)
Donor and donee must both be living persons.
8)
When the property is immovable, there must be a registered instrument
properly attested.
9)
in case of movable property,there must be either a registered
instrument properly attested or delivery of possession.
10)
There can be no gift of future property.
11)
Gift should not be made under undue influence,duress etc.
12)
registered instrument is not necessary to validate gift of immovable
property by muslim person.
Kinds
of gift
1)
void gift
The
following gifts are void viz-
1)
Gift made for an unlawful purpose,
2)
Gift depending on a condition,the fulfilment of which is impossible
or forbidden by law.
3)
Where donee dies before acceptance.
4)
Gift by a person incompetent to contract that is a minor, lunatic
etc.
5)
A gift comprising existing and future property is void as to the
latter.
6)
A gift of a thing to two or more donees of whom one does not accept
it ,is void as to the interest which he would have taken had he
accepted.
7)
A gift which under an agreement between the parties is revocable
wholly or in part at the mere will of the donor is void wholly or in
part as the case may be.
Onerous
gift
A
gift may not always be of a beneficial character,but may at times
burdened with an obligation. Said gift is known as onerous gift.
Where
a gift is in the form of a single transfer to the same person of
several things,of which one is ,and the others are not burdened by an
obligation,the donee can take nothing by the gift unless he accepts
it fully.
Onerous
gift to disqualified person
If
a donee who is not competent to contract accepts property burdened by
any obligation, he is not bound by his acceptance. But if after
becoming competent to contract and being aware of the obligation,he
retains the property given, he becomes so bound.
Universal
donee
A
universal donee is one to whom the donor's whole properly is given
and who subsequently becomes liable for all the debts due by and
liabilities of the donor at the time of gift to the extent of
properly comprised in the gift.
Revocation
or suspension of gifts
A
gift once made irrevocable except in the following two cases:
1)
A gift is revocable if donor and donee have agreed that on the
happening of a specified even( not depending upon the will of
donor),gift should be suspended or revoked.
2)
A gift can also be revoked in those cases in which a contract can be
rescinded.(for example, for fraud, misrepresentation etc)
These
rules do not however effect the rights of a transferee for
consideration without notice.
Saving
of donatio mortis causa and muhammadan law
S
129 of the Act provides that nothing in this chapter relating to
gifts
1)
relates to gifts of movable properly made in contemplation of
death(that is donatio mortis causa;or
2)
shall be deemed to affect any rule of muhammadan law.
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