Inter Vivos Transfer
Definition - What does Inter Vivos Transfer mean?
An inter vivos transfer is a transfer of property from one person to another which is undertaken while a person is still alive as opposed to something that is inherited through a death. There are many such transfers in conveyancing of large assets, usually property, for the purpose of either reducing the beneficial owner or inheritor's tax payment against the asset or when the inheritor needs full title over a property in order to avail of the immediate benefit, such as when they wish to use the property as collaterol.
Justipedia explains Inter Vivos Transfer
Sometimes, inter vivos transfers of property hold special clauses that allow the property owner to avail of the property over the course of their life even though they are handing title in full over to another person. Such a situation is termed a right to remain. Significant savings can happen through the availing of such transfers as well as potential bankruptcy liquidation avoidance. There are times where a court will deem the transfer illegal such as where it can be seen to be done to avoid repayment of debt through liquidation.
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