(1) If a person grants free
of cost a property in which the person has right and ownership to
another person or for any religious, social, public or community
purpose such an act shall be deemed to be a donation.
(2) If a person grants free of cost a property in which the
person has right and ownership to another person as a reward, prize
or tip in consideration for merits to him or her by that other person
by way of fostering him or her or otherwise or for family love or
affection such an act shall be deemed to be a gift.
(3) In effecting a donation or gift pursuant to sub-section
(1) or (2), such a donation or gift may be so effected that it is
effective immediately or after a certain period or after the death of
its maker.
(4) If a donation or a gift becomes effective only after the
death of the maker of such donation or gift, it shall be deemed that
he or she has executed a testamentary donation or testamentary gift.