gift

Primary tabs

In property law, a gift refers to a voluntary transfer of a benefit without the need for any compensation and consideration. Three elements must be met for a gift to be legally valid: 

  • Intent to give (the donor's intent to make a gift to the recipient),
  • delivery of the gift to the recipient, 
  • and acceptance of the gift.

[Last updated in January of 2023 by the Wex Definitions Team]