Section 122 of TPA : Section 122: ?Gift? Defined

Explanation using Example

Imagine an elderly woman, Mrs. Sharma, who owns a piece of jewelry that has been in her family for generations. She decides to gift this heirloom to her granddaughter, Anjali, as a token of love. Mrs. Sharma communicates her intention to Anjali and hands over the jewelry to her.

Anjali, understanding the significance of the gift, expresses her gratitude and willingly accepts the jewelry. This acceptance takes place while Mrs. Sharma is still alive and capable of making the gift. Therefore, according to Section 122 of the Transfer of Property Act, 1882, the transfer of the jewelry is a valid gift.