California Gift Deed Without Possession
Description
How to fill out California Gift Deed For Individual To Individual?
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FAQ
Both types of gifts share three elements which must be met in order for the gift to be legally effective: donative intent (the intention of the donor to give the gift to the donee), the delivery of the gift to the donee, and the acceptance of the gift.
Whereas, acceptance of gift by the donee is one of very important element of a valid gift. Therefore when gift is made in favour of minor or insane person the acceptance of gift needs to be made by the guardian. In case if a guardian is making gift then the delivery of possession is not required.
Under Section 122 of the Act, delivery of possession is not necessary for acceptance of the gift. Since the gift is defined under Section 122 of the Ac... custom, a gift could be made but to make it valid, it was necessary that the possession of the property should be delivered to the donee.
If the gift deed was not performed and registered in ance with legal requirements, it is invalid, and the Gift deed can be challenged in Court. The gift deed can be challenged in court if either party to the gift was incompetent to contract; the gift is void.
Unregistered gift deed of immovable property is invalid and doesn't results in transfer of ownership of the immovable property but unregistered gift deed, if any, made for movable property will not be invalid just on the ground of it's not being registered.