Estates & Future Interest

Estates & Future Interest - Term Definition 1-1 What is...

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Term: 1-1 What is the term for relatives like aunts, uncles, cousins, brothers, and sister? Definition: Collaterals Term: 1-2 What is a "devisee"? Definition: The beneficiary of real property under a will. Term: 1-3 Is there something wrong with the following sentence? If so, correct it: "All of the heirs gathered at the lawyer's office to learn what the decedent had left them in his will." Definition: "Heirs" are those who take in the absence of a will. "Devisees" are those who take under a will. Term: 1-4 Fill in the blank: Ann Smith has made an appointment with her lawyer to have her will drawn. She intends to _______ her house to her son. Definition: Devise Term: 1-5 Fill in the blank: Jeremy Parker died ___ [without a will]. Definition: Intestate
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Term: 1-6 Are "convey" and "sell" synonymous? If not, why not? Definition: To "convey" includes both transfer by sale and transfer by gift. Term: 1-7 Fill in the blank: The ___ [dead person] had no heirs. Definition: Decedent Term: 1-8 Name some examples of a person's "collaterals." Definition:
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