Inter Vivos Gift
The most common type of gift is an inter vivos gift.
An inter vivos gift is the immediate, voluntary, gratuitous, and irrevocable transfer of title between living persons.
It has three requirements:
- The donor must have donative intent.
- The donor must deliver the object of the gift.
- Delivery can be actual or constructive. Actual delivery is required unless it is not possible.
- Usually concluded to require giving up dominion and control to the donee.
- The donee must accept the object of the gift.
- Acceptance is assumed when the gift is valuable and unconditional.