iStock_000018127503_ExtraSmall

At this time of year, many of us will give and receive gifts.  To avoid any embarrassing mishaps on Christmas morning we are on hand to help you decipher what constitutes a gift.

The way in which a gift must be made depends on the type of property that is being given. There are certain gifts that must be made by way of a deed or declaration of trust.

A deed will generally be enforceable despite no consideration passing for the interest, right or property that is given under it.  If you are gifting land to a loved one this Christmas you would require a form of deed to record that no consideration was given.  If your festive wish is to give a beneficial interest in an asset only, then this can be achieved by way of a declaration of trust.

Usually however, a gift can be effected by simple delivery of the goods so you can rest easy in the comfort that your gifts are most likely to be properly delivered this Christmas.

Merry Christmas!


Leave a Reply

Your email address will not be published. Required fields are marked *

16 − thirteen =

This blog is intended only as a synopsis of certain recent developments. If any matter referred to in this blog is sought to be relied upon, further advice should be obtained.