Gifts

Registering assets on daughter’s name

Question:- I paid for some shares and a property, and put it in my daughter's name. It was not given to her. Who is the owner? Answer:- Your query states that you purchased the property and the shares. These were not gifted to your daughter at any stage. You simply...

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Gifting a child’s toy to another child

Question:- Does a parent have the right to give away their children's toys that they are using, to other children? Answer:- If the parent owns the toy and had only loaned the toy to the child, then the parent is entitled to gift the toy to another child. However, if...

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Requesting debtor to gift funds

Question:- Someone owed me money but I already made the intention of forgiving his debt and hadn't told him as yet. After a few months, he comes to me with the money and I now feel like taking the money, so I tell him “I already forgave your debt, but if you want to...

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Gifting one’s possession during one’s lifetime

Question:- 1. My mother recently gifted two gold bangles to my daughters, one for each of them, but my mum has stated that she will make use of it until her death. To whom do the bangles belong? Will they be given to my daughters after my mum's passing away, or will...

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