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.