The transfer of possession of real property or PERSONAL PROPERTY from one person to another.
Two elements of a valid gift are delivery and donative intent. Delivery is not restricted to the actual physical transfer of an item—in some cases delivery may be symbolic. Such is the case where one person gives land to another person. Land cannot be physically delivered, but delivery of the deed constitutes the transfer if coupled with the requisite intent to pass the land on to another.
Similarly, delivery can take place in a situation where goods are set apart and notice is given to whoever is scheduled to receive them. This is known as constructive delivery.
Law Library - American Law and Legal InformationFree Legal Encyclopedia: Deed of covenant to Direct Tax