Dictionary of Law
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gift :: legal definition


Gift - n. the voluntary transfer of property (including money) to another person completely free of payment or strings while both the giver and the recipient are still alive. Large gifts are subject to the federal gift tax, and in some states, to a state gift tax.

See also: gift tax unified estate and gift tax and Related Law Terms ↓


Related Law Terms

constitutional rights :: n. rights given or reserved to the people by the U ... e also: Bill of Rights constitution
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
gift tax :: n. federal tax on large gifts. Gifts to members of ... ance in gift tax planning is vital.
limited partnership :: n. a special type of partnership which is very com ... mited liability partner partnership
non-profit corporation :: n. an organization incorporated under state laws a ... harity corporation cy pres doctrine
reformation :: n. the correction or change of an existing documen ... neral partner sues for reformation.
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
unified estate and gift tax :: n. in federal estate taxes, the value of the estat ... turn. See also: estate tax gift tax
use tax :: n. a state tax on goods purchased in another state ... e" tax equivalent to its sales tax.
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - G

gag order :: n. a judge's order prohibiting the attorneys and t ... st day in office, January 22, 1993.
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
garnishee :: n. a person or entity, quite often a bank or emplo ... ourt. See also: garnish garnishment
garnishment :: n. the entire process of petitioning for and getti ... heriff. See also: garnish garnishee
gender bias :: n. unequal treatment in employment opportunity (su ... statutes. See also: discrimination
general appearance :: n. an attorney's representation of a client in cou ... case. See also: special appearance
general counsel :: n. the chief attorney for a corporation, who is pa ... e counsel." See also: house counsel
general damages :: n. monetary recovery (money won) in a lawsuit for ... s exemplary damages special damages
general denial :: n. a statement in an answer to a lawsuit or claim ... anguage. See also: answer complaint
general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership
general plan :: n. a plan of a city, county or area which establis ... uture development. See also: zoning
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
gift :: n. the voluntary transfer of property (including m ... ift tax unified estate and gift tax
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
gift tax :: n. federal tax on large gifts. Gifts to members of ... ance in gift tax planning is vital.
go bail :: v. slang for putting up the bail money to get an a ... arrest or pending trial or appeal.
good cause :: n. a legally sufficient reason for a ruling or oth ... od cause shown, the court orders:."
good faith :: n. honest intent to act without taking an unfair a ... plied to all kinds of transactions.
Good Samaritan rule :: n. from a Biblical story, if a volunteer comes to ... a lawsuit for millions of dollars.
good title :: n. ownership of real property which is totally fre ... or deed of trust on the property).