love and affection

love and affection

The usual recited consideration when there has been a gift of real estate to a family member or other loved one. Love and affection is good consideration under applicable statutes,but it is not valuable consideration.Important concepts include the following:

• Atransfer of land to a child for love and affection during the parent's lifetime will often be deemed an advancement under the parent's will and can reduce the amount the child will inherit under the will.

• Love and affection will support a deed and make it valid, but it is not sufficient considera- tion so as to make a contract enforceable. In other words, a contract to transfer real estate upon love and affection is not enforceable; a deed with recited consideration of love and affection cannot be set aside.

• One who takes property for a consideration of love and affection cannot be a bona fide purchaser for value, because the consideration is only good, it is not valuable.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Showing his love and affection with the motherland, the nuclear scientist said,' I am Pakistan as well as you are.
We should promote the message of love and affection by participating in each other's happiness because it promotes tolerance and societal love in the society, the Chief Minister concluded.
While I am happy to receive so much love and affection, I am very disturbed that the two boys ran away from their homes just to meet me.
In an interview with BOPA, a vendor at Kanye Shoppers Mall, Ms Khumo Akanyang said Valentine's Day is observed every year for people to express love and affection for each other.
LAHORE -- Punjab Chief Minister Mohammad Shehbaz Sharif has said that International Fathers Day reminds about love and affection of the father.
He added that touching the heights of respect lies in love and affection to the mother.
LOVE AND AFFECTION - MORE MOTOWN GIRLS (ACE) Here on Love And Affection - More Motown Girls are 25 tracks that have never appeared on CD before and the average that these recordings have been awaiting release is getting on for an astonishing 50 years.
JEDDAH: The absence of emotional conversations stemming from feelings of love and affection between family members in many Saudi families makes life and living seem dark and dull.
I agree, but I also believe that every ordinary day should be treated special when it comes to showing love and affection to people dear to us.
A little hug can go a long way, Your love and affection by it to say, The welcome feel of a human touch, Such a small thing but can mean so much.
Jennifer When you dream about a dog, you are thinking about your own need for unconditional love and affection. A puppy represents the possibility of finding this love and affection with someone you have recently become friends with.
The award included more than pounds 20,000 for her loss of "financial dependency" on him and pounds 2,000 for the "love and affection" she was robbed of by his death.