What is the ruling on gifts (hibah), sales, and purchases, what is the difference between them, and is it permissible to revoke a gift?

Sale is the exchange of money for money, or giving something in return for what is received. It also refers to purchase. As for a gift (hiba), it is the transfer of ownership of an item without compensation during one's lifetime, voluntarily. The difference between them is that sale is for compensation, while a gift is without compensation. If a husband gifts something to his wife and she legally possesses it and is competent to dispose of it, then the gift is permissible and does not affect her inheritance, and it belongs to the donee forever. A gift cannot be conditional or temporary. The majority of scholars view it as forbidden to revoke a gift after its possession, except for a father regarding what he gives to his child, based on the Prophet's (peace be upon him) saying: "The one who revokes his gift is like a dog that vomits and then returns to its vomit," and "It is not permissible for a man to give a gift and then revoke it, except for a father regarding what he gives to his child." Gifting is better than selling because it is a transfer of ownership without compensation, resembling charity, and one is rewarded for it if it is intended for the sake of Allah.