STUDY UNIT 3 Flashcards
TESTATE LAW OF SUCCESSION
comprises of legal rules or norms that regulatethe devolution of a deceased person’s estate on one or more persons according to the testator’s wishes expressed in the will.
WHAT IS A WILL?
a will is a unilateral and voluntary expression of one’s intentions which is made in a legally prescribed manner and by which a person provides what is to happen to his or her estate after his or her death.
BASIC REQUIREMENTS OF A VALID WILL
- Animus testandi - the intention to execute a will.
- Volition (or choice) - execution of the will must be of the free choice of the testator.
- Testamentary capacity
- Formalities of a will
A CODICIL?
a codicil is often referred to as an addendum in an existing will, and is a separate will that has to comply with the same formalities as a will.
TESTAMENTARY WRITING?
any document that contains these elements:
1. Identity of a beneficiary.
2. Extent of the bequeathed interest (ownership, usufruct, etc).
3. Identity of the bequeathed property.
EX PARTE DAVIES CASE
ADIATION
is the acceptance of the inheritance of a benefit in the estate of a deceased person.
REPUDIATION
is the refusal or rejection of the inheritance of a benefit from a deceased person’s estate.
-this should be done in writing.
JOINT WILLS
where two or more testators set out their respective wills in the same document.
parties do not necessarily have to appoint each other as beneficiaries.
MUTUAL WILLS
where two or more testators draw up a joint will and confer each other as beneficiaries in the same will.
EXECUTION OF JOINT OR MUTUAL WILLS
joint or mutual wills need only be executed once.
DOCTRINE OF ELECTION
applicable to all case where the acceptance of a benefit from a will simultaneously holds some kind of burden or obligation to the beneficiary.
-applies when the testators has burdened the beneficiary.
