A: Hereunder are few basic guidelines to follow:
Generally, if one wishes to give away an asset during one's lifetime, the proper procedures of gifting must be observed. This includes an offer and acceptance, possession being assumed by the recipient, and relinquishing all rights of ownership by the donor. Once these protocols are fulfilled, the transfer of ownership takes place from a Shari'ah perspective. It would be suitable to reduce it to writing and have witnesses present if possible to avoid future disputes.
If a father wishes to give an asset to his minor child (who has not yet reached puberty), the above procedures do not need to be observed. The 'Aqd (contract) itself will be sufficient for the transfer of ownership. It would be suitable to reduce it to writing and have witnesses present if possible to avoid future disputes.
If a mother wishes to give an asset to her minor child, the father will assume the responsibility of accepting the gift and taking possession of the asset.
If the child is Mumayyaz (discerning/judicious), the child can independently assume possession of the asset.
From a Shari'ah perspective, merely having the intention to give does not qualify as a transfer of ownership.
And Allah Knows Best
Darul Ihsan Fatwa Dept.