CONTRACT OF GIFT
This contract of gift (hereinafter the "Agreement") has been entered into in [City where the contract is signed] on [Contract date] between the following parties:
1. PARTIES
1.1 Donor:
[Donor's name]
Personal identification code: [Donor's personal identification code]
Address: [Donor's address]
(hereinafter the "Donor")
1.2 Recipient:
[Recipient's name]
Personal identification code: [Recipient's personal identification code]
Address: [Recipient's address]
(hereinafter the "Recipient")
2. SUBJECT OF THE GIFT
2.1 By this Agreement, the Donor undertakes to deliver to the Recipient, free of charge, the property belonging to the Donor specified in clause 2.3 (hereinafter the "Gift") and to enable the transfer of ownership to the Recipient (Law of Obligations Act (VÕS) § 259 (1)).
2.2 Type of gift: [Type of gift].
2.3 Description: [Description of the gift]. Estimated value: [Estimated value (€)] euros.
2.4 The Parties confirm that the property being given does not include an immovable or a right related to an immovable.
2.5 The Donor confirms that the Gift belongs to the Donor, that the Donor has the right to give it, and that, to the Donor's knowledge, the Gift is not subject to any rights of third parties or encumbrances which have not been disclosed to the Recipient.
3. DELIVERY
3.1 The Gift is delivered to the Recipient upon conclusion of this Agreement.
3.2 The Donor delivers the Gift to the Recipient and removes all obstacles to its possession (VÕS § 263). Ownership passes to the Recipient upon delivery of possession of the Gift (Law of Property Act (AÕS) § 92 (1)). Together with the Gift, the Donor hands over the documents pertaining to it, if any.
3.3 The Recipient confirms that the Recipient agrees to accept the Gift. The risk of accidental destruction of or damage to the Gift passes to the Recipient upon delivery of the Gift.
4. CHARGES AND CONDITIONS
4.1 The Gift is subject to the following charges/conditions: [Description of the charges/conditions].
4.2 If the Gift is subject to a charge or condition and the Recipient unjustifiably fails to perform it, the Donor may withdraw from the Agreement in accordance with the procedure set out in clause 6.
4.3 If, due to its non-conformity with the terms of the contract, the value of the Gift does not cover the expenses necessary for performing the charge, the Recipient may refuse to perform the charge to the extent exceeding the value of the Gift until the expenses exceeding the value of the Gift are compensated to the Recipient (VÕS § 265 (4)).
5. LIABILITY OF THE DONOR
5.1 The conformity of the Gift with the terms of the contract is assessed in accordance with §§ 217 and 218 of the Law of Obligations Act. If the Gift does not conform to the terms of the contract, the Donor is liable only if the Donor intentionally or through gross negligence failed to inform the Recipient of the non-conformity or if the Donor has undertaken to be liable (VÕS § 264 (1)–(2)).
5.2 The Gift is delivered in the condition in which it is at the time of conclusion of the Agreement. The Donor has informed the Recipient of all defects in the Gift known to the Donor.
6. WITHDRAWAL
6.1 Before delivery of the Gift, the Donor may refuse to perform the Agreement and withdraw from the Agreement if: 1) the Recipient has, by the Recipient's conduct, shown gross ingratitude towards the Donor or a person close to the Donor; 2) in the event of performance of the Agreement, the Donor would be unable to perform a statutory maintenance obligation or to maintain himself or herself reasonably, unless the Donor has placed himself or herself in that situation intentionally or through gross negligence or the Recipient pays the money necessary for maintenance; 3) the Recipient unjustifiably fails to perform a charge or condition related to the Gift; 4) new or significantly greater maintenance obligations have arisen for the Donor after the conclusion of the Agreement; 5) the Recipient dies (VÕS § 267).
6.2 After delivery of the Gift, the Donor may withdraw from the Agreement and reclaim the Gift from the Recipient under the provisions on unjust enrichment in the cases referred to in sub-clauses 1–3 of clause 6.1 (VÕS § 268 (1)).
6.3 The Donor may withdraw from the Agreement within one year from the time when the Donor became or should have become aware of the arising of the right of withdrawal. If the Agreement has been performed, the Donor may not withdraw from the Agreement after the death of the Recipient (VÕS § 270 (1)). A contract of gift entered into for the performance of a moral obligation may not be withdrawn from (VÕS § 270 (3)).
6.4 In the cases referred to in clauses 6.1–6.2, the Recipient has no right to claim compensation for damage caused to the Recipient by the withdrawal from the Agreement (VÕS § 269).
7. DISPUTE RESOLUTION
7.1 Disputes arising from this Agreement are resolved as follows: [Dispute resolution].
7.2 The Agreement is governed by the law of [Governing law].
8. FINAL PROVISIONS
8.1 The Donor's declaration of intention to assume obligations arising from a contract of gift is made in writing (VÕS § 261 (1)). Upon performance of an obligation arising from the contract of gift, the Agreement is deemed valid even if that formal requirement has not been complied with (VÕS § 261 (2)).
8.2 Amendments and supplements to the Agreement are made in writing and enter into force once both Parties have signed them.
8.3 If any provision of the Agreement is or becomes invalid, this does not affect the validity of the remaining provisions. The Agreement enters into force once both Parties have signed it.
LEGAL BASIS
This gift is governed by §§ 259–270 of the Law of Obligations Act (contract of gift). This template is intended only for movables, sums of money or other simple proprietary rights delivered immediately upon conclusion of the Agreement. It DOES NOT COVER an immovable or a right related to an immovable (the obligation transaction for the transfer of an immovable must be notarially authenticated, § 119 (1) of the Law of Property Act) or a gift made in contemplation of death (VÕS § 262, to which formal requirements similar to those for a will apply).