According to the Transfer of Property Act, a voluntary transfer of a movable or an immovable property without consideration is referred to as gift. This gift should be accepted by the donee also.
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In common parlance gift is the renunciation of the property right by the owner (donor) in favour of donee. In a valid gift there should be a donor, donee and a property (Datavya) and it should be accompanied by certain formalities. The question arises as to whether there can be a valid gift when the property is renounced but is not accepted by the donee? According to the view of Jimutvahana, that in gift ownership is not created by acceptance but by renunciation by the donor.
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This is liable to be defeated by the refusal of the donee from accepting the property. However, till the refusal or acceptance is not there the inchoate ownership vests in the donee. According to the Mitakshara, gift is incomplete without acceptance. Donor can divest himself of the ownership, but he cannot impose the ownership upon the donee without the consent of the donee. So between the making of the gift and acceptance of the gift the ownership is not of the donee.