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inter vivos

(in-tur veye-vohs) adj. Latin for "among the living," usually referring to the transfer of property by agreement between living persons and not by a gift through a will. It can also refer to a trust (inter vivos trust) which commences during the lifetime of the person (trustor or settlor) creating the trust as distinguished from a trust created by a will (testamentary trust), which comes into existence upon the death of the writer of the will.

See also: inter vivos trust 

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The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications