Gifts

Question 1

What is an inter vivos gift?

Answer 1

A gift between living persons

Question 2

What is a testamentary gift?

Answer 2

A gift that takes effect upon the donor’s death

Question 3

What is a causa mortis gift?

Answer 3

A deathbed gift

Question 4

Elements of an inter vivos gift

Answer 4

(1) Donative intent; must have intent to make a present transfer of ownership of the property to the donee.
(2) Delivery; donor must make an effective delivery of the object of the gift to the donee.
(3) Acceptance; the donee must accept the object of the gift. Acceptance is presumed if the gift is beneficial to the donee.

Question 5

Delivery Requirements

Answer 5

• Manual delivery requires actual, immediate, physical transfer.

Other form of delivery are acceptable if manual delivery is impracticable:

• Constructive delivery occurs when the donor transfers something that provides the donee with the ability or means to exercise dominion and control over the object of the gift.
• Symbolic delivery occurs when the donor transfers something that is a “symbol” (or substitute) for the object of the gift. eg a deed for land.

Question 6

Elements of a causa mortis gift

Answer 6

intent by the donor to make a present transfer of ownership of the subject matter of the gift, a sufficient act of delivery by the donor, and acceptance by the donee.