Do you know that the owner of a proper land can voluntarily transfer his or her interest in that land to a person without any consideration paid by the recipient?
This can be actualised via a deed of gift. A gift of land is simply the voluntary conveyance of transfer of any interest in land made gratuitously to a recipient without the payment of any consideration.
Where a deed of gift of land has been executed, the ownership of the property transfers to the recipient and the recipient becomes the bonafide owner even when the initial owner (donor) of the land still lives. For a deed of gift of land to be valid, the following conditions must exist.
1. The intention of the donor to make the gift
2. Completed act of delivery to the recipient; and
3. Acceptance of the gift by the beneficiary or recipient.
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