In order for a transfer to be treated as a completed gift the transfer must be irrevocably relinquished by the donor.

Question

Quizplus · Accepted Answer

In order for a transfer to be treated as a completed gift, the donor must irrevocably relinquish control over the property being transferred. This means that the donor cannot retain the right to revoke or take back the gift. Once the transfer is complete, the property belongs to the recipient and the donor cannot change their mind.

In Order for a Transfer to Be Treated as a Completed