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Gift of Stock Interest in Business to Family Member
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					                 Gift of Stock Interest in Business to Family Member

       I, (Name of Donor), of (street address, city, state, zip code), give and deliver to
(Name of Donee), my (e.g., son or daughter) of (street address, city, state, zip code), a
______% interest in my business conducted under the name of (Name of Business),
located at (street address, city, state, zip code), and more particularly described as
follows: (set forth description).

        The interest conveyed to (Name of Donee) consists o
				
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posted:2/7/2011
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Description: A gift involves transferring title by voluntary action of the owner without receiving anything in exchange. A gift of property is a: 1. Passing of title; 2. Made with the intent to pass title; and 3. Without receiving money or value in consideration for the passing of title. The donor is the person making the gift, and the donee is the person receiving the gift. A gift may be made as a result of something the donee has done, but this is not consideration unless receiving the "gift" is a condition of doing something - then it is not a gift. An inter vivos gift is what we think of as an ordinary gift between two persons. An inter vivos gift is made if a donor intends to convey all rights to the property at the present time and delivers the property to the donee. The gift takes effect upon the donor's intent to transfer ownership and making delivery. The donee can refuse the gift. If there is no acceptance, the gift is not complete. Delivery ordinarily involves handing the gift over to the donee. This can be accomplished by physically delivering the gift or by symbolic delivery. An example of symbolic delivery would be delivery of keys to a car (the means of control) - symbolic of giving the car to someone. Giving a deed to a house to someone can be symbolic delivery of the real property.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),