Chapter 6 - Dower, Curtesy, Wills and Descent Flashcards
What is a dower?
the interest given to a wife by state law in the property of her husband upon his death. It is a life estate in a one-half part of all lands owned by the husband at any given time during the continuance of the marriage. This right is said to be an inchoate dower interest before her husband’s death.
What does inchoate mean?
during a husband’s life the wife’s rights consist only of a possibility that she will receive anything upon his death.
What does consummate mean?
when a husband passes away and the wife’s interest in property changes into actual possession.
What is Chapter 485 of the Laws of NJ, 1979?
provides for the abolition of the interest as to any real property acquired after the effective date of the Act, which is May 28, 1980, that no new dower and curtesy interests may be created in NJ.
What is the right of possession?
established by the Chapter 485 of the Laws of NJ Act. Each spouse has the right of joint possession during marriage with the other spouse of the property occupied as their principal matrimonial residence acquired after the effective date of the Act. Important to note that this is limited to the time that the persons are married.
What is curtesy?
The one-half life estate given to a widowed husband, by state law, in the lands owned by his wife during the marriage.
What is an augmented estate?
is the net probate estate of a deceased spouse plus certain transfers he made during his lifetime to his spouse and to others. The surviving spouse can take one-third of the augmented estate, unless provisions which the decedent made during this lifetime and by will, plus property owned by the surviving spouse, exceed this one third amount.
What is probate?
the legal process of determining the validity of a will, paying off the debts of the estate and determining who gets the remainder of the estate.
What is intestate?
a deceased person without a will
What is testate?
a deceased person with a will
What is a testator?
The party making the will is male, 18, and of sound mind
What is a testatrix?
The party making the will is female, 18, and of sound mind
What is an intestacy?
is the condition of the estate of a person who dies without having in force a valid will or other binding declaration. Alternatively this may also apply where a will or declaration has been made, but only applies to part of the estate; the remaining estate forms the “intestate estate”
What is an administrator and administratrix?
appointed to administer the decedent’s affairs
What is an executor and executrix?
If the decedent left a will, the person named in the will to administer the decedent’s estate
