Alabama Agreement for Conditional Gifts
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FAQ
There are two main forms of conditional gifts in trusts: condition precedent gifts and condition subsequent gifts.
A conditional gift is where the gift deed turns invalid if a certain condition which, had to be fulfilled was not. Conditions have to be made before or at the time of making the gift; it cannot be added later. A condition has to be uncertain or something that is not in the control of the donor.
A conditional gift is one which is based on some future event or action taking place. If the event doesn't occur, then the gift-giver has the right to get the gift back. Most courts classify engagement rings as a conditional gift and award the engagement ring to the giver in broken engagement cases.
1. The gift deed can be conditional or unconditional. If the gift deed is conditional then either the title may pass to the donee if the condition precedent is met, or the transfer of title may be revoked if the condition is not met.
A conditional donative promise is no more enforceable than any donative promise. This is true even if the condition has been fulfilled.
Not only do you select the beneficiaries, but you can go a step further and require that the beneficiary meet certain conditions. This is known as conditional gifting.
A conditional gift is one that is subject to or dependent on a condition. A conditional gift can be revoked if the recipient does not fulfill the conditions attached to the gift. A gift is a conditional gift and it is not final until some future event occurs.
A gift is a voluntary and gratuitous transfer of property from one person to another, without something of value promised in return. Failure to follow through on a promise to make a gift is not enforceable as a breach of contract because there is no consideration for the promise.
A gift is a conditional gift and it is not final until some future event occurs. If the particular event does not occur, the person making the gift has the right to get back the gift. A common example of conditional gift is A shall gift his car to C, if C is alive at A's death.
