Final answer:
Jake's inheritance of property from his deceased father is classified as inheritance and not a gift, as it occurs through legal mechanisms rather than personal affection.
Step-by-step explanation:
When Jake inherited his property from his deceased father, it is classified as a transfer of property but it is not a gift in the traditional sense. This process is actually known as inheritance, which is a legal form of transferring property after someone's death to their heirs or through a will. An inheritance does not meet the common criteria for a gift because it is not a transfer made out of affection, it's necessitated by the process of law after the demise of an individual. Therefore, the correct answer is b. Not a gift.