9:17
im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
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LSDefine
Simple English definitions for legal terms
gift inter vivos
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A quick definition of gift inter vivos:
A gift is when someone gives something to another person without expecting anything in return. It can be a thing like a toy or money. There are different types of gifts, like a gift given while the person is alive (inter vivos gift) or a gift given in a will (testamentary gift). Some gifts are given to help others, like a charitable gift to a nonprofit organization. A completed gift is when the giver no longer has control over the thing they gave. A split gift is when two people share the gift. A gift can also be given in anticipation of the giver's death (gift causa mortis).A more thorough explanation:
Definition: A gift inter vivos is a voluntary transfer of property from one person to another without compensation during the donor's lifetime. It is a gift of personal property that is delivered to the donee with the intention of irrevocably surrendering control over the property.
Examples: An example of a gift inter vivos is when a father gives his son a car as a birthday present. Another example is when a grandmother gives her granddaughter a piece of jewelry as a graduation gift.
Explanation: In both examples, the donor voluntarily transfers the property (car and jewelry) to the donee without receiving any compensation. The gift is made during the donor's lifetime and is delivered to the donee with the intention of irrevocably surrendering control over the property. Once the gift is made, the donor cannot take back the property. Therefore, it is an inter vivos gift.