Gift with reservation

Gift with reservation,

Definition of Gift with reservation:

  1. Condition attached to a gift or transfer of asset that benefits the original owner in some way. Commonly used to transfer ownership of property or other assets to an intended beneficiary prior to the death of the owner. For example, a parent may choose to transfer ownership of the family home to their children while reserving the right to reside in the home.

Meaning of Gift with reservation & Gift with reservation Definition