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The hand-to-hand gift, a Franco-Belgian perspective

The hand-to-hand gift is a well-known concept in Belgium and France, but the term does not cover the same reality in the two countries, and the tax consequences are not the same.

The French and Belgian Civil Codes define a gift as a contract by which, during his lifetime, a person (the donor) immediately and irrevocably transfers ownership of an asset in favour of another person (the donee) who accepts it (French Civil Code ; 4.132 §2 of the Belgian Civil Code).

In principle, a gift must be formalised by a notarial deed (Article 931 of the French Civil Code ; Article 4.158 of the Belgian Civil Code). This is always the case for gifts of immovable property. However, for gifts of movable property, it is generally accepted that a manual gift is a valid gift which may be included in the estate in order to ensure equality amongst the heirs.

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