Answer:
Following are the necessary elements needed to make any gift effective:
• Completed delivery of the gift for or to the benefit of donee.
• Donor's intention in making a gift.
• Capacity of donor while making a gift.
• Donee's acceptance of a gift.
Answer:
Mr J has gifted a car to Mr F. the gift proved to be effective as it has all the three essential components in it: done acceptance, delivery and donative intent. The gift was supposed to be returned if Mr J survives the illness or he wish to get it back before his death.
Thus, if the gift has to be absolute, the death of Mr J was must. But as Mr J was so, Uncle S's demand of gift is correct as the gift to Mr F was revoked.
Answer:
When a property is held as joint tenants then the property will be owned by both the parties. On the other hand if it is held as common tenants then both the parties will have their separate shares usually in equal percentage.
In case of joint tenant, if one of the parties died then he other party will own the property completely without any will as the property is hold on trust by them. On the other hand, if same thing happens in case of tenants in common, then the property will be dealt as per the will of dead party.
Joint tenancy is the best choice for many couples who are married. On the other hand, groups and cohabiters choose tenants in common.