Gifts Flashcards
the immediate transfer of property rights from the donor to the donee without payment or other consideration
Gift
the person making the gift
Donor:
the person receiving the gift
Donee:
Immediate transfer of property between two living persons (ordinary type of gift)
Inter vivos gift
Transfer of property made in the future when the donor dies, usually pursuant to a will
Testamentary gift
Transfer of property made by a living person in contemplation or anticipation of imminent death
Causa Mortis gift
Recognized only in some states
A gift that is conditioned on the occurrence of an action or event (example: engagement ring)
Conditional gift
Donative intent
Delivery
Acceptance
Elements of Inter vivos Gift
Donor must intend to make an immediate transfer of the property
Donative intent
Property must be delivered to the donee such that the donor parts with delivery and control of the item
Delivery
Donee must accept the property
Acceptance is usually presumed if the item benefits the donee or is of value
Acceptance
The person claiming to be the donee has the burden of proving each element by _____ & _______ _______
clear and convincing evidence
Actual / Manual
Constructive
Symbolic
Types of Delivery
When the donor physically transfers possession of the gifted item to the donee
Actual / Manual
When the donor physically transfers possession of an object that provides access to the gifted item
Example: keys to a car
Constructive
When the donor physically transfers possession of an object that represents or symbolizes the gifted item
Symbolic
An __________ gift is a voluntary transfer from one person to another that is immediately effective
inter vivos
A gift intended to take effect in the future (____________) is not valid unless the requirements of the Statute of Wills are met
a testamentary gift
A check is an order authorizing the bank to pay and is revocable prior to payment
Because it is revocable, there is no valid gift until the check is cashed
Cashier’s check
Stronger evidence of delivery than a personal check because the donor does not retain dominion and control over the funds
Gifts by Check
An engagement ring is a conditional gift that is not completed unless the wedding occurs
This is the rule in most states
engagement ring - Majority rule
Some jurisdictions follow the rule that ownership of the engagement ring is awarded to the party that was not at fault for the cancellation of the wedding
Other jurisdictions follow the rule that the engagement ring constitutes an irrevocable, completed inter vivos gift when accepted (see Albinger v. Harris)
engagement ring - minority viewpoints
A gift _____________ is a gift of personal property made by a living person in contemplation of his/her imminent death (think: “death bed wishes are granted”)
causa mortis
Donative intent
Delivery
Acceptance
Donor’s anticipation of imminent death and donor’s actual death from the illness or peril which he anticipated
Gifts Causa Mortis
Elements
The gift is made in contemplation, fear, peril or anticipation of imminent death, and
the donor dies as a result of such illness or peril
Gifts ______ _______ are revocable by the donor at any time prior to the donor’s death, or
If the donor does not die of the impending peril, or
If the donor recovers from the illness
causa mortis
