Outright Gift Law and Legal Definition
Outright gift is a donation of cash or other assets such as stock, real estate or personal property. Outright gifts include cash, securities (stocks and bonds), real estate, tangible personal property, matching gifts and gifts-in-kind.
Outright gifts made to a donee during minority belong to the donee and, during minority, should be in charge of the guardian of the minor's estate. [Babcock v. Fisk, 327 Mich. 72 (Mich. 1950)].
