Transfer of Property Act, 1882
122. "Gift" defined
"Gift" is the transfer of certain existing movable or
immovable property made voluntarily and without consideration, by one person,
called the donor, to another, called the donor, and accepted by or on behalf of
the donee.
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.