Section 122 - TPA
Conditional gift
Gift - Conditional gift with no recital of acceptance and no evidence in proof of acceptance, where possession remains with the donor as long as he is alive, does not become complete during lifetime of the donor - When a gift is incomplete and title remains with the donor, the deed of gift might be cancelled - A conditional gift only becomes complete on compliance of the conditions in the deed - Transfer of Property Act, 1882, Section 122.
No provision in law that ownership in property cannot be gifted without transfer of possession of such property
Transfer of Property Act, 1882, Section 122 - Gift - Whether a document in terms whereof the executant of the document retained possession and reserved her right over the property being the subject-matter of the document could be a deed of gift or whether such a document was a document in the nature of a will? - There is no provision in law that ownership in property cannot be gifted without transfer of possession of such property - However, the conditions precedent of a gift as defined in Section 122 of the Transfer of Property Act must be satisfied.
The fact that the donor had reserved the right to enjoy the property during her lifetime did not affect the validity of the deed
The fact that the donor had reserved the right to enjoy the property during her lifetime did not affect the validity of the deed - A gift made by registered instrument duly executed by or on behalf of the donor and attested by at least two witnesses is valid, if the same is accepted by or on behalf of the done - Such acceptance must, however, be made during the lifetime of the donor and while he is still capable of making an acceptance .