A gift, under the Transfer of Property Act, 1882, is defined in Section 122 as the transfer of property, made voluntarily and without consideration, by one person (the donor) to another (the donee), and accepted by or on behalf of the donee. The law governing gifts in India focuses on voluntary transfers of property, distinguishing it from other types of transfers like sales or leases that involve consideration.

For a gift to be valid under the Transfer of Property Act, 1882, the following essential requirements must be fulfilled:

1. Voluntary Transfer
   • A gift must be voluntary, meaning that it is made out of the donor's free will without any pressure or coercion. The donor must act without any form of compensation or expectation of reciprocation.
   • Gifts cannot be made under duress or undue influence, and the donor's intention must be clear, genuine, and unforced.
   • Absence of consideration: Unlike in contracts for sale or lease, a gift must not involve consideration (money, services, or other tangible benefits). The donor must not receive any payment or advantage in return for the transfer.
2. Transfer of Property
   • The property being gifted must be transferable. Under Section 122, only property that is capable of being transferred under the law can be gifted. The term "property" refers to movable or immovable property.
   • Immovable Property: For a gift of immovable property, the donor must have ownership or the right to transfer the property. If the donor is not the owner or authorized to transfer, the gift is not valid.
   • Movable Property: For movable property, the donor must have the right to transfer the ownership to the donee.
   • Additionally, the gift must be made in a manner that is legally recognized, typically through the actual delivery of the property in the case of movable property or a proper deed of gift for immovable property.
3. Intention of the Donor
   • For a gift to be valid, the donor must have the intention to transfer the property to the donee without expecting anything in return. This intention must be clear and unequivocal.
   • Clear Declaration of Gift: The donor must indicate their intention to donate the property. This can be done through a verbal declaration or a written deed of gift.
4. Acceptance by the Donee
   • The gift must be accepted by the donee, or by someone on their behalf, during the donor's lifetime. Acceptance of the gift is crucial for its validity, as the donee's consent is required to complete the gift.
   • Implied Acceptance: If the donee shows an overt action of accepting the gift, like taking possession of the property or using it, this can be construed as implied acceptance.
   • Explicit Acceptance: If the donee agrees to the gift in writing, this formal acceptance makes the gift valid. For gifts of immovable property, acceptance should ideally be recorded in writing, especially in the case of a registered deed of gift.
5. Delivery of Possession
   • For the gift of movable property, possession should be delivered to the donee. Physical delivery can be considered evidence of the transfer of ownership.
   • Delivery of Possession for Movable Property: The donor must physically deliver the property to the donee. This can be done through direct handover or through a symbol or representative act (such as handing over keys for a car).
   • Delivery of Possession for Immovable Property: A gift of immovable property can be executed through a deed of gift and registration under the Indian Registration Act, 1908.
6. Written and Registered Instrument for Immovable Property
   • If the gift involves immovable property, it must be made in writing and registered according to the Indian Registration Act, 1908.
   • Section 123 of the TPA mandates that a gift of immovable property must be made in writing and registered. A verbal gift of immovable property is not legally binding.
7. Competence of the Donor
   • The donor must have the legal capacity to transfer property. This means the donor must be of sound mind and not a minor.
   • Sound Mind: The donor should be mentally competent to understand the nature of the transaction.
8. No Fraud or Undue Influence
   • A gift is not valid if it has been made under fraud, coercion, or undue influence. The donor's free will must not be impaired in any manner.
9. Revocation of the Gift
   • Under Section 126 of the TPA, a gift is irrevocable unless it is subject to a condition that permits revocation.
10. Gift to a Minor
    • A gift to a minor is valid, but the minor cannot accept it personally. In such cases, the gift must be accepted on the minor's behalf by a guardian.

Conclusion
In summary, for a gift to be valid under the Transfer of Property Act, 1882, it must fulfill several essential conditions: it must be voluntary and made without consideration; there must be clear intention to make the gift; it must be accepted by the donee; and the delivery of possession is required (depending on whether the property is movable or immovable). Additionally, the gift of immovable property must be executed in writing and registered. Gifts must also be free from fraud, coercion, or undue influence. A gift is typically irrevocable and cannot be undone unless specific conditions allow for its revocation.