Section 122“Gift” defined

s. 122

122. “Gift” defined “Gift” is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee [, and includes a gift under section 122A of this Act]. [Acceptance when to be made] Such acceptance must be made during the lifetime of the donor and while he is still capable of giving. If the donee dies before acceptance, the gift is void.

1. 32. The comma, words and number “, and includes a gift under section 122A of this Act” were inserted after the words “on behalf of the donee” by section 2 of the Transfer of Property (Amendment) Act, 2026 (Act No. CV of 2026).