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February 20, 2019

Love and Affection

Word of the day

Love and Affection

Usual consideration when a gift is intended, it is different from valuable consid¬eration. The difference between the two is important in those areas of the law requiring a valuable consideration, such as under the recording acts, which protect the rights of bona fide purchasers for value. A common example of a grant deed supported by love and affection is a gift transfer of the family home by a father to his son “for love and affection.”

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