What is gift and what are the requisites of a valid gift under Hindu law?
Gifts Under Hindu Law:
A gift in Hindu law is not mandatory to be in writing. For a valid gift, it is required that there must be the delivery of physical possession from the donor to the donee. … A female may dispose of her stridhana by way of gift, subject to the consent of her husband.
What is gift under Hindu law?
Hindu Law defines gift as “the creation of another person’s proprietary right after the extinction of one’s own proprietary right within the material of the gift.” Gift under Shastric Hindu law needn’t be writing, but a present there under law isn’t valid unless it’s amid delivery of possession of the themes of the …
What are the requisites of a valid transfer?
The transfer of property must take place between two or more living persons. The transfer of property must take place inter vivos, meaning property must be transferred between two or more persons who are living. Both the transferor and transferee must be living entities on the date of transfer.
What are the types of gifts?
Types of Gifts
- Unrestricted Gifts.
- Designated Gifts.
- Memorial and Tribute Gifts.
- Matching Gifts.
- Annual Giving.
- Planned Giving.
- Special Events.
- Capital Campaign.
How can a gift be made to an unborn person under Hindu law?
Under pure Hindu law, a gift or bequest in favor of an unborn was void. But now, since transfer of property act is applicable on Hindus, the transfer in favor of an unborn person is valid if it is made subject to the provision of section 13 of the act.
Which is not required in a gift?
‘Without consideration‘ – A gift is a transfer without consideration and if there is any consideration in any shape, there is no gift. The word ‘consideration’ means valuable consideration, i.e. consideration either of money or money’s worth.
Who can make a valid gift?
A donor must be a competent person to make a gift. Every Muslim, male or female, married or unmarried, who has attained the age of majority and has a sound mind is a competent donor. For the purpose of making a gift, the age of majority is the attainment of 18 years and 21 years if he is under a certificated guardian.
Can gift deed be challenged in court?
The gift deed can certainly be questioned in the court of law by filling a suit for such declaration. However, it will be challenged only if you are able to establish that the execution of the deed was not as per the wish of the donor or was executed under misrepresentation, fraud etc.