20:49
THATS SO FUNNY
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
gift causa mortis
Read a random definition: graduated-payment mortgage
A quick definition of gift causa mortis:
Gifts causa mortis is a type of gift that someone gives when they think they might die soon. It's different from a regular gift because the person who gave the gift can ask for it back, and it only becomes permanent after they die. These gifts can only be things like jewelry or money, not houses or land. If someone wants to give a gift like this, they have to make sure there's enough proof that they really meant to give it.
A more thorough explanation:
Gifts causa mortis is a legal term that refers to gifts made in anticipation of death. These gifts are different from gifts made during a person's lifetime, which are called inter vivos gifts. Inter vivos gifts become irrevocable as soon as the recipient accepts them, but gifts causa mortis can be revoked by the donor until they pass away.
For example, if someone is on their deathbed and gives their favorite watch to a friend, that would be considered a gift causa mortis. If the person recovers, they can ask for the watch back. However, if the person passes away, the gift becomes irrevocable and is treated as part of their estate.
It's important to note that gifts causa mortis can only include personal property, not real estate. Additionally, they are taxed differently than inter vivos gifts, as they are considered part of the donor's estate.
Gifts causa mortis are often made when a person is unable to update their will before their death. In these cases, the court may infer that a gift was made based on the evidence presented.