Gifts

Question 1

Inter vivos

Question 2

Causa mortis

Answer 2

Present transfer of interest, only difference between any other gift is that it is REVOCABLE
ex. ill give you this car when i die, i

donor expects imminent demise but gift is revocable upon recovery

Question 3

Requirements for gifts

Answer 3

Gifts have to be given in THE MOMENT

Acceptance
Intent
Delivery

Question 4

Types of Delivery

Answer 4

Constructive

Question 5

Intent

Answer 5

Intent in gifts is not “normal” intent…
“I want to give you” is not intent
“I am giving you this” is intent

Question 6

inter vivos

Answer 6

donor is in good health and has full capacities

Question 7

gifts v wills

Answer 7

wills are a passing of property upon death of the donor only + statute of wills requires that must be in writing and in the presence of a witness

Question 8

life estate

Answer 8

possessory rights for the duration of the recipients life
reversion : back to grantor
remainder: to somoene else