Can the gift be made of the property not in existence, i.e. of the future property ?
No. The subject matter of gift must be certain existing moveable or immoveable property. It could be anything such as, goods, any right, title or interest in any immovable property which exists or even an actionable claim. It must be transferable within the meaning of Sec.6 of the Transfer of Property Act. A gift of the right to management is valid. But a gift of the future revenue of the village is invalid. Release of a debt is not a gift; because it does not involve any transfer of property but merely a renunciation of a right of action. If you are not able to find the answer you are looking for, please send us a message by clicking here. We will address the same.
Ans: No. The subject matter of gift must be certainly existing moveable or immoveable property. It could be anything such as, goods, any right, title or interest in any immovable property which exists or even an actionable claim. It must be transferable within the meaning of Sec.6 of the Transfer of Property Act. A gift of the right to management is valid. But a gift of the future revenue of the village is invalid. Release of a debt is not a gift; because it does not involve any transfer of property but merely a renunciation of a right of action.
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