‘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 done. (Section 112)
Acceptance of the gift must be made during the lifetime of the donor and while he is still capable of giving. For making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witness. For making a gift of movable property, the transfer may effected either by a registered instrument signed as aforesaid or by delivery.
Where a gift consists of donor’s whole property, the done is personally liable for all the debts due and liabilities of the donor at the time of the gift to the extent of the property comprised therein.