The concept of a "gift" holds a special place in law, offering a mechanism for individuals to transfer property without monetary exchange. In India, the legal foundation for gifts is established under Sections 122 to 129 of the Transfer of Property Act, 1882. These provisions comprehensively define the essentials of a valid gift, the process of making a gift, and its associated rights and liabilities. Let's explore these sections in detail.

What is a Gift?

Section 122 defines a gift as the transfer of ownership of movable or immovable property, voluntarily and without consideration, by one person (the donor) to another (the donee). The transfer must be accepted by the donee during the donor's lifetime and while the donor is capable of giving consent.

Essentials of a Gift:

• Transfer of Ownership: The donor must intend to transfer full ownership, not merely possession or a temporary interest.
• Existing Property: The property being gifted must be in existence at the time of the gift.
• Voluntariness: The gift must be made without coercion, fraud, or undue influence.
• No Consideration: A gift is gratuitous; no compensation or payment is involved.
• Acceptance by Donee: The donee must accept the gift, failing which the gift is void.

Modes of Making a Gift

Section 123: Transfer Procedure For immovable property, the gift must be executed through a registered instrument signed by the donor and attested by at least two witnesses. For movable property, a gift can be completed either by registration or through delivery of possession.

Revocation of Gifts

Section 126: Conditions for Revocation A gift, once accepted, is generally irrevocable. However, it may be revoked under specific conditions:

• If the donor and donee agree that the gift will be revoked on the occurrence of a specific event, provided the condition is not dependent solely on the donor's will.
• If the gift is obtained by coercion, fraud, or undue influence, it can be revoked by the courts.

It's crucial to note that the condition for revocation must be clearly stated in the gift deed.

Onerous Gifts

Section 127: Burdens Attached to Gifts A gift may sometimes come with obligations or liabilities, referred to as onerous gifts. If a donee accepts such a gift, they are bound to bear the associated burdens. If the donee rejects the onerous part of the gift but accepts the beneficial part, the entire gift becomes void.

Universal Donee

Section 128: Responsibilities of a Universal Donee When a person receives the entire property of the donor as a gift, they are termed a universal donee. Such a donee inherits not only the assets but also the liabilities of the donor existing at the time of the gift.

Savings Clause

Section 129: Exceptions to Gift Rules This section exempts gifts made in contemplation of death (donatio mortis causa) and those governed by personal laws, such as Hindu or Muslim law, from the provisions of Sections 122-128.

Practical Implications

Gifts are a common legal instrument for transferring wealth within families, such as gifting property to children. However, improper execution can render a gift legally invalid. Therefore, understanding these provisions and ensuring compliance is essential for donors and donees.

Conclusion
Sections 122 to 129 of the Transfer of Property Act provide a robust framework for the legal recognition of gifts, ensuring clarity and fairness. By adhering to these provisions, individuals can safeguard their rights while promoting the spirit of generosity and goodwill in their transactions.