Gifts Flashcards
(21 cards)
What is a gift?
A voluntary transfer of property without consideration.
Name the three main types of gifts.
- Testamentary
- Inter Vivos
- Causa Mortis
What are Testamentary Gifts?
Gifts transferred through a will, effective upon the donor’s death.
What is required for a will to be valid in testamentary gifts?
Must be signed and witnessed by at least two people.
When does a donor retain control of property in testamentary gifts?
Until death.
What is an example of a Testamentary Gift?
A woman writes in her will that her niece will inherit her diamond necklace.
What are Inter Vivos Gifts?
Gifts made during the donor’s lifetime with the intent to transfer immediate ownership.
What are the three essential elements of Inter Vivos Gifts?
- Intent
- Delivery
- Acceptance
What does Intent mean in the context of Inter Vivos Gifts?
The donor must intend to make an immediate, irrevocable transfer of the gift.
What are the types of Delivery in Inter Vivos Gifts?
- Manual
- Constructive
- Symbolic
What is Manual Delivery?
Physically handing over the item.
What is Constructive Delivery?
Giving the donee access to the item.
What is Symbolic Delivery?
Delivering a written statement or object representing the gift.
What does Acceptance mean in the context of Inter Vivos Gifts?
The donee must accept the gift, either explicitly or implicitly.
What was the holding in Gruen v. Gruen (1986)?
The court ruled in favor of the son, holding that the gift was valid through symbolic delivery.
What does Albinger v. Harris (2002) illustrate about engagement rings?
Engagement rings can be treated as conditional gifts based on the marriage occurring.
What are Causa Mortis Gifts?
Gifts given in anticipation of imminent death, valid only if the donor dies from the anticipated cause.
What are the requirements for Causa Mortis Gifts?
- Intent
- Delivery
- Acceptance
- Death
What is the significance of the death requirement in Causa Mortis Gifts?
The donor must die from the anticipated cause; if they survive, the gift is revoked.
What was the holding in Brind v. International Trust Co. (1933)?
The court ruled the gift invalid because the donor did not die from the anticipated cause.
What does the case Brind v. International Trust Co. (1933) illustrate about Causa Mortis Gifts?
A causa mortis gift is strictly construed, requiring the donor to die from the specific feared cause.
