Class Gift Law and Legal Definition
A class gift refers to a gift given to group of persons. At the time of class gift, the number of persons in a group might be uncertain. However, the number of persons is to be ascertained at a future time because the share of each person is dependant on the ultimate number in the group. Some examples of a class gift are:
1.Gift given to children;
2. Gift given to heirs;
A class gift is one in which a donor intends to benefit a group or a class of persons. The class gift donor is said to be “group-minded”. [Riggs Nat'l Bank v. Summerlin, 445 F.2d 201 (D.C. Cir. 1971)].
