Chapter Six - Dower, Curtesy, Wills and Descent Flashcards Preview

NJ Real Estate Exam > Chapter Six - Dower, Curtesy, Wills and Descent > Flashcards

Flashcards in Chapter Six - Dower, Curtesy, Wills and Descent Deck (8)
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1
Q

Dower

A
  • The interest given to a wife by state law in the property of her husband upon his death.
  • It is a Life Estate that in 1/2 of all lands owned by the husband at the time during the continuance of marriage.
  • It is an Inchoate dower interest because during his life the wife’s rights consist only of a possibility that she will receive anything upon his death.
  • It becomes Consummate upon death.
  • Dower is subject to liens and encumbrances to which the land was subject at the time of the marriage.
  • Any real property transferred during the husband’s lifetime without the wife’s signature will be transferred with a cloud on the title.

- Dower & Curtesy was ended on May 28th, 1980.

2
Q

Right of Possession

A
  • Dower and Courtesy were eliminated on May 29, 1980.
  • Right of Possession Act: Each spouse has the right of joint possession during marriage with the other spouse of the property occupied as their principal matrimonial residence.
  • The right can only be released with proper consent.
  • Death terminates marriage.
  • Only a final judgment of divorce will terminate this marital right.
3
Q

Curtesy

A
  • 1/2 life estate given to a widowed husband.
4
Q

Elective Share Law

A
  • Law introduced the concept of the augmented estate.
  • Augmented Estate: surviving spouse can take 1/3 unless the the assets of the surviving spouse exceed this 1/3 amount.
  • If the husband did not provide for his wife in his will.
5
Q

Laws of Descent

A
  • If there is no wil, property will pass to the descendent’s heirs.
  • Heirs may encumber or convey legal title immediately but their title is not leagally marketable since all property will be subject to temporary possession of an executor.
  • However, a beneficiary holding title as tenancy by the entirety or joint tenant woud immediately have marketable title.
6
Q

Probate

A
  • The legal process of determining that validity of a will, paying off the debts of the estate and determining who gets the remainder of the estate.
7
Q

Devise

A
  • A testamentary gift of real estate or personal property,
8
Q

Alienation

A
  • The transfer of property and possession of lands from one person to another.