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The difference between transferring ownership in personal property by gift versus by a sales transaction is _ _ _ _ _ _ _ _ _
The difference between transferring ownership in personal property by gift versus by a sales transaction is
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A sale does not transfer title to personal or real property.
A gift has no consideration compensationpayment of money or other value; a sale requires payment of a price consideration in order for title to transfer from owner to recipient of the property.
A sale is ineffective if the consideration compensation is not commercially reasonable
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