Conditional Gift
/kən-ˈdi-shə-nəl gɪft/
Definitions
- (n.) A gift that takes effect or is enforceable only upon the occurrence of a specified condition or event.
The donor made a conditional gift, stipulating that the funds be used only if the recipient graduates from college.
Forms
- conditional gift
- conditional gifts
Related terms
See also
Commentary
A conditional gift differs from an outright gift by its dependency on a condition precedent, making clarity in drafting essential to determine when ownership passes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.