A gift or asset transfer with some condition attached. The condition in some way usually benefits the original owner. Prior to the death of the owner it is commonly used to transfer to an intended beneficiary property or asset ownership. A parent reserving continued residence after transferring to their children ownership of the family home is a fairly common example.
Link to This DefinitionDid you find this definition of GIFT WITH RESERVATION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary