Inter vivos and testamentary transfers are important ways to decide who owns a property when someone passes away. It’s important to know about these two types of transfers in property law.

Inter Vivos Transfers
These are gifts or property transfers that happen while the person giving the property is still alive. Here are some key points:

• Immediate Effect: The ownership changes right away. This means the person receiving the property can use it or sell it without waiting.
• Irrevocability: Once the transfer is done, it can’t be reversed. This means the person who gave the property can’t control it anymore.
• Tax Implications: There might be gift taxes involved. This can affect how much money the person receiving the gift needs to handle.

For example, if a person gives their house to a family member while they are still alive, that family member becomes the full owner as soon as the transfer is finished.

Testamentary Transfers
On the other hand, testamentary transfers happen when a person dies, following what is written in their will. Here are some key points:

• Delayed Effect: The ownership only changes after the person dies. This allows the person to keep control of the property until then.
• Conditionality: The transfer can have conditions. For example, the beneficiary might need to reach a certain age to receive the property.
• Probate Process: This kind of transfer usually requires a legal process called probate to confirm the will and make sure everything is done correctly.

For instance, if someone leaves their belongings to a charity in their will, the charity won’t own anything until the person passes away and the probate process is finished.

Both of these ways of transferring property can have a big impact on who owns it after someone dies. They affect heirs, estate taxes, and how the deceased person’s affairs are handled. Knowing these differences is very important for managing property and planning an estate.