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Definition Of Gift:


nvProperty given as a present.
The action of making a present of property.class giftA gift made to a group of persons, the number of whom is determined at the time of the gift.gift causa mortis. (Latin.)A gift made by a donor in the expectation that he or she will die soon after.gift overA gift that becomes effective only upon the expiration of a prior transfer (such as a life estate).inter vivos giftAn irrevocable gift made during the owner's lifetime.testamentary giftA gift made by will.

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