Is The Donation Contract Retroactive

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Is The Donation Contract Retroactive
Is The Donation Contract Retroactive

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A donation agreement, also known as a "gift agreement", is a common document in civil law relations. Both the donor and the gifted are often interested in the question - is it possible to cancel the agreement and return the donated thing to its original owner?

Is the donation contract retroactive
Is the donation contract retroactive

Features of the registration of a donation agreement

Through a donation, you can transfer any tangible property from one person to another into ownership: real estate, cars, securities, etc. These legal relations are governed by Article 572 of the Civil Code of the Russian Federation, and the main feature of the transaction lies in its gratuitousness: the thing is transferred from person to person for nothing, otherwise it is necessary to conclude a purchase and sale agreement.

The donation agreement is concluded in a simple written form indicating the subject of donation and the full details of the parties. If one of the parties is a legal entity, or the agreement provides for any promise, the transaction must be notarized. In all cases, the contract is signed by both parties in duplicate, each of which remains with one of the parties. It is worth noting that such an agreement is usually concluded between close relatives, since in this case the gifted person is exempt from paying tax on the acquired property.

Termination of a gift agreement

Any agreement concluded in a simple written form is retroactive and can be terminated at any time by agreement of the parties, after which the donated property must be returned to the donor in the same form as it was received. Any material fruits obtained with the help of the property during the use of it remain in the ownership of the gifted.

Unilateral termination of the gift agreement is possible in several cases. One of them is a significant deterioration in the material condition of the donor, which can be confirmed by various reference documents. Also, threats or physical harm to the donor and his immediate family can lead to the termination of the agreement and the return of property.

Other reasons for the return of the donated property include significant damage to the latter, as well as the death of the gifted person. These aspects must be specified in the contract when it is concluded. One way or another, the legality of the termination of the transaction and the fate of the donated property are decided in court if one of the parties refuses to make concessions peacefully.

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