Gift [Section 122 — 129]

A grandfather in Thane says at a family dinner, “This flat is yours, beta,” and hands his granddaughter a set of keys. Everyone claps. Years later a cousin challenges her ownership. Was it a gift at all? Did the grandfather need to sign something? Could he change his mind? Chapter VII of the Transfer of Property Act, sections 122 to 129, sets out exactly when a promise to give becomes a transfer that the law will recognise.

In two minutes

A gift is a voluntary transfer, without consideration, of certain existing moveable or immoveable property by a donor to a donee, accepted by or for the donee during the donor’s lifetime; immoveable property must pass by a registered instrument signed by the donor and attested by at least two witnesses.

The rest of this chapter

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