Gift is the transfer of ownership in an existing movable or immovable property without any consideration. Gift is a voluntary and gratuitous transfer of ownership in a property in favour of another person. A gift may be made either between two living persons or it may be testamentary. A testamentary gift is called a ‘will’ which comes into operation only after the death of the transferor (testator). The person making the gift is called the donor and the person to whom the gift has been made is called the donee. Acceptance of such gift 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. The transfer of a gift of immovable property irrespective of its value must be made through registered instrument, signed by or on behalf of the donor and attested by at least two witnesses. For the purpose of making a gift of movable property, irrespective of its value, the transfer may be effected either by a registered instrument signed as aforesaid or by delivery. A gift consisting of a future property is void because it is a mere promise which cannot be enforced. Where a gift is made to several persons and one of them does not accept, it becomes void as to the interest which he would have taken had he accepted. A gift may be suspended or revoked in certain cases by agreement and in certain circumstances without any previous agreement.
