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Simple English definitions for legal terms
inter vivos
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A quick definition of inter vivos:
Inter vivos means "while alive" or "between the living" in Latin. In property law, it refers to legal actions taken by a person while they are still alive, such as giving gifts, creating trusts, or transferring property. For example, an inter vivos transfer is a property transfer made during a person's lifetime, and a living trust is a trust created while the person who made it is still alive and can change it if they want to.
A more thorough explanation:
Inter vivos is a Latin phrase that means "between the living" or "while alive." It is commonly used in property law to refer to legal actions taken by a person while they are still alive.
Examples of inter vivos actions in property law include:
- Inter vivos transfer: This refers to a property transfer that is made during the transferor's lifetime. For example, if a person gives their car to a family member while they are still alive, it is considered an inter vivos transfer.
- Living trust: This is a trust that is created during the lifetime of the person who sets it up (known as the settlor). The trust can be changed or revoked by the settlor before their death. This is also known as an inter vivos trust.
These examples illustrate the definition of inter vivos because they both involve legal actions taken by a person while they are still alive. In both cases, the person is making decisions about their property and assets while they are still able to do so.