CENTRAL UNIVERSITY OF SOUTH BIHAR

GAYA-824236

SCHOOL OF LAW & GOVERNANCE

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property law
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PROJECT REPORT

exchange and gift of property

Submitted By:- Under the Supervision of:-

JYOTISH RAJ Dr.Pallavi singh
B.A. LL.B Assistant Professor
5th Semester (2017-2022) School of Law & Governance
Enrolment- CUSB1713125018 (CUSB)
 ACKNOWLEDMENT

I, Kishabh Prakash take extreme in expressing my profound gratitude towards my Contract-I

teacher Mrs.Poonan Kumari(Assistant professor, law) for inspiring me and giving me the
invaluable guidance and constant support throughout the course of my project work. I have
taken efforts in thus kind project. However, it would not have been possible without the kind
support of my teacher, friends, colleagues and many more individual person writers, college
staffs, librarians and other sources of e-resource. I would like to sincere thanks to all of them.
I thank my parents for providing me every think whatever be require for the completion of this
project.
Finally, I would like to thanks all kith and kin who are a little bit part in helping me for this
kind of project.

Kishabh Prakash
B.A.LLB. (Hons.)
3rd semester (2018-2023)
Enroll. No - CUSB1813125041
 Table of content

Chapters No. Content Page no.

 1. INTRODCTION

A gift is generally considered as the exchange or transfer of ownership of any property from one
person to another where the sender willingly transfers his/her property to the receiver without any
compensation i.e., without considering any monetary value. A gift is often called a form of
reward. It may be given by sender to receiver during any events like Weeding Ceremony,
Birthday Party etc. A gift may be in the form of moveable property or immovable property. When
the sender will have intention to deliver any gift to the receiver of that gift and when the receiver
will accept that gift without any consideration from sender by law then this gift should be
recognized as a legal gift by law. A gift may become revoked and void by law when the essential
elements of a gift are not implemented properly.

Exchange defined when two person mutually transfer the ownership of one thing for the ownership
fof another ,neither thing or both things being money only, the transaction is called exchange.
A transfer of property in completion of an exchange can be made only in manner provided for the
transfer of such propert by sale .in exchange there is transefer of owneship of pne thing for the
ownership of some other thing . transfer of ownership for consideration of money bis called sale
whereas without consideration it is called gift therefore where a property is canged for anoter
propeerty it is called exchange.
An exchange icludes a barter of goods for movable property.these provisons are appicable to
exchange of both the movable and immovable properties.where the ownership of a thing is
transferred for money only.it is not cosnidred an exchange but sale .but where alongwith the
ownership of property some money is also given in addition it is included in exchange for eg.where
one of the two properties which are to be exchanged exceeds the other in value the transaction
would be an exchange even if some money is paid by the owner of property in addition to the
property in addition to the property .for another example, if a person exchanges his house worth
rs 2000 with a field worth rs 1500 and the owner of the field agrees to pay rs 500 in cash, the
transaction will be a sale