What would a testamentary gift of real or personal property

Chapter 6: Dower, Curtesy, Wills, and Descent Flashcards

What would a testamentary gift of real or personal property be ?devise Right of possession (After May 28 1980)- right of joint possession during marriage- may not be released or sold without consent of both parties except judgement in court- even if not officially divorced, right of possession not extinguished Dower (May 28 1980)- Interest of ownership that a wife has in the real estate of her deceased husband- However has no interest when husband has a joint tenancy Augmented Estate- The net probate estate of a deceased spouse plus certain transfers he made during his lifetime to his spouse and to others.Executor/Executrix- as a testator or person making a will, you are allowed to designate an executor or executrix as the representative to carry out your will when you die.New Jersey law of Descent and Distribution - determines the manner in which New Jersey real estate will be distributed If there is no will...- property will pass to the decedent's heirs by the state Law of Descent Administrator/Administratrix- person (man, woman) appointed to wind up and settle the estate of a person who has died without a will Curtesty- is a husband's right to a one-half life estate in his wife's property that she owns at the time of her death. In some states, curtesy exists only if there are children and is defeated if the husband deserts his wife.Requirements for dower- Valid Marriage- Husband owns property during marriage- Husband must die prior to wife Testate and IntestateWill/No Will Testator/Testatrix- a male that dies with a will and a testatrix is a female that dies with a will.- must be of legal age and sound mind Codicil- supplement to the body of a will; later addition to a will Alienation- The transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.- Voluntary would be a deed or will- Involuntary foreclosure, escheat, etc