Chapter VII of Transfer of Property Act , 1882 consists of “gifts “. Gift is stated in section 122 of the act. It is a gratuitous transfer which means that it involves no consideration and it is made voluntarily . In gift an existing property is transferred in favour of another person without consideration. A gift may be made between two living persons( a donor and a donee) or it may take place after the death of the transferor.
• Gandevella Jayaram Reddy v. Mokkala Padmavathamma it was held that execution of gift deeds be registered document during interim order directing status quo is permissible. Moreover Court stated that where the transfer of immovable property was by way of “Pasupa Kumkuma” which means a gift, settlement or assignment of Land of daughter, this amounts to gift and requires registration.
• Essential Elements of a Gift
There are the following five essentials of a valid gift:
(1) Transfer of ownership.
(2) Existing property.
(3) Transfer without consideration.
(4) Voluntary transfer with free consent.
(5) Acceptance of the gift.
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