Donation is a gratuitous and voluntary transfer of ownership of a thing to another person. It can be both movable and immovable, tangible and intangible. The condition is that the donor actually owns the item.
What is a gift agreement for?
Donation is a legal relationship between the donor and the donee, which is enshrined in the Civil Code and is implemented through a donation contract. The donor may also donate all of his or her property or, at most, half of the future property.
Did you know that if circumstances change fundamentally after the contract is concluded, it is possible to revoke the gift? This is for the donor’s uncaused distress or for the donor’s gross ingratitude to the donor. The time limit for revocation for ingratitude is one year.

When to use a gift agreement?
You can donate movable or immovable property. In the case of movable property, the gift agreement does not have to be in writing. It is signed when the donation is made, and may be a hand-to-hand transfer or even a symbolic acceptance of the item. However, when the object of the gift is immovable property, the gift agreement must be in writing.
Did you know that even though the gift tax has been abolished, in some cases the donee is still liable to pay income tax at 15%? This is because the receipt of a gift is considered a pecuniary benefit on the part of the donee. However, gifts between close persons are exempt from tax, as are gifts from a single donor whose value does not exceed CZK 15,000 per year.