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PAINTING GIFT FROM FATHER TO SON- GIFTS
i. Turns on estate law and notion of remainders and real property
ii. Court says: father has ownership, he gives himself life estate, so dad stays owner, and remainder after dad dies goes to son→ DOES NOT WORK
-More like a lease, and term of lease is his life while son had ownership.
iii. Property in Time- remainder was something he could sell
iv. If capable of manual delivery, manual delivery required
v. Need physical object for delivery
i. Turns on estate law and notion of remainders and real property
ii. Court says: father has ownership, he gives himself life estate, so dad stays owner, and remainder after dad dies goes to son→ DOES NOT WORK
-More like a lease, and term of lease is his life while son had ownership.
iii. Property in Time- remainder was something he could sell
iv. If capable of manual delivery, manual delivery required
v. Need physical object for delivery
