Your Status: Logged out Log in

Presumption of Advancement  

Member rating: No Rating | Words: | Submitted: Fri Jun 03 2005

Page Preview
Preview
Previous 1 of 4 Next

On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:

Presumption of Advancement Presumption of advancement occurs where one party transfers property to another and there is a legal presumption that the transfer was intended as an absolute gift. An advancement is defined as "that which is given to a child by a father, or other person standing in loco-parentis, in anticipation of what the child might inherit", Mozely and Whitely's Law Dictionary, J.E Penner 12th Edition. Although this definition is limited to transfers between biological fathers or those in loco - parentis and their children, it is of use in conveying the idea of an advancement being an anticipation of inheritance. We must also note at this point that the presumption of advancement will negate a resulting trust. Current law provides that a presumption of advancement is only available in three situations, from biological father to child, from a father in loco- parentis to his child, and from a husband...

To see the full version of this document, and 143,615 others

Register Now