When does a gift officially take place?

A gift officially takes place when the owner intends to make the gift, which is known as the intent to give. This intent is crucial in determining whether a gift has been legally completed. The intention signifies that the owner (donor) has made a clear decision to transfer ownership of a particular item or asset to another party (recipient).

This intent is usually accompanied by the act of delivery, where possession of the item is transferred to the recipient. Mere discussions or agreements about the gift without the intention and subsequent action (like delivery) do not fulfill the legal requirements for a gift to be considered complete. Therefore, the key factor is the donor's intention, which binds them to the promise of the gift and solidifies its status in a legal context.