Gifts

Gifts

Inter vivos transfer
1. B) Deed
  1. 1. Perfected under deed
    1. 2. No actual delivery required
      1. 3. Deed becomes effective once grantor shows intent to be bound
2. A) Trust
3. C) Delivery
  1. 1. Intent to make a gift
    1. 2. Intent of recipient to accept gift
      1. 3. Delivery
        Legal Act to complete gift
        No continuing control or power in the donor
        Actual, constructive or symbolic
        Symbolic delivery: goods are unable to be transferred manually so another object handed in its name
        Constructive Delivery
        1. When possession is already in the hands of donee
        2. Handing over all effective means of control of the object
        Must be with the knowledge & consent of donor
        Unfulfilled gift will be treated as complete if donee becomes an excutor under donor's will
    2. "words of present gift" or infer intent
    3. Donative intention during delivery
    4. Caution when determining intent of deceased person
Donatio mortis causa
1. 1. Impending death from an existing peril
  1. 2. Delivery of the subject matter
    1. 3. The gift is only to take effect upon death and will revert to the donor should he/she recover

Resource summary

	Created by Lois Boateng almost 10 years ago