New York Court of Appeals
Michael S. Gruen v. Kemija Gruen
July 8, 198668 N.Y.2d 48
Summary
The New York Court of Appeals affirmed the Appellate Division's judgment that the plaintiff received a valid inter vivos gift of title to a Klimt painting, despite the donor reserving a life estate. The court held that the donor's intent, delivery, and acceptance satisfied the elements of a present gift, and that a donor may reserve a life estate without invalidating the gift.