Legal Definitions - inter vivos gift

An inter vivos gift is a voluntary transfer of property from one person to another without compensation during the donor's lifetime. It is also known as a lifetime gift or absolute gift. The intention of the donor is to irrevocably surrender control over the property. The recipient must accept the gift, and the donor must deliver it to the recipient.

Examples of inter vivos gifts include:

• A parent giving a car to their child as a birthday present
• A friend giving a piece of jewelry to another friend as a token of appreciation
• A grandparent giving money to their grandchild to help pay for college

These examples illustrate the definition of an inter vivos gift because they involve a voluntary transfer of property without compensation during the donor's lifetime. The intention of the donor is to give up control over the property, and the recipient accepts the gift.