Legal Provisions Regarding Gift under the Transfer of Property Act
According to the Transfer of Property Act, a voluntary transfer of a movable or an immovable property without consideration is referred to as gift. This gift should be accepted by the donee also. Image Source: 2.bp.blogspot.comIn common parlance gift is the renunciation of the property right by the owner (donor) in favour of donee. In a valid gift there should be a donor, donee and a property (Datavya) and it should be accompanied by certain formalities. The question arises as to whether there can be a valid gift when the property is renounced but is not accepted by the donee? According to the view of Jimutvahana, that in gift ownership is not created by acceptance but by renunciation by the donor. ADVERTISEMENTS: This is liable to be defeated by the…