Conditional Legacy - Law Dictionary Search Results
Conditional legacy
Matched in: Term Conditional legacy
Cy-pres
personal legacies, tht a substantial compliance with the condition satisfies it, although not literally fulfilled. Thus, if a legacy upon a condition precedent require the consent of three persons to a marriage, and one or more of … principles of the original charities. There is also amodification of the strictness of the Common Law as to conditions precedent in regard to personal legacies, which is at once rational and convenient, and tends to carry into
In terrorem
In terrorem (by way of terrifying). Where a condition which the law will not carry out is attached to a gift or a legacy without a gift
Keep your definitions linked to case research
Absolute legacy
Matched in: Term Absolute legacy
Vested in interest
that is uncertain, although the period of enjoyment may be uncertain or conditional. See following titles and CONTINGENT LEGACY; CONTINGENT RE-MAINDER. … applied to a present fixed right of future enjoyment, as reversions, vested remainders, such executory devises, future uses, conditional limitations, and other future interests, the present right of which is not referred to, or made to depend
contingent
executory 2 : intended for use in circumstances not completely foreseen [a fund] 3 : dependent on or conditioned by something else [a claim] [a legacy on the marriage] compare vested
Appropriation, powers of
any part of the real or personal estate (including things in action) of the deceased in its actual condition or state of investment at the time of appropriation in or towards satisfaction of any legacy or interest
Annuity
and the heirs of his body was ineffectual to create and estate tail, and passed an absolute interest conditional only upon an heir of the body being born. But now under s. 130 of the (English) L. … be either created, or, if already existing, may be transmitted, by will. A created annuity is a general legacy, and will abate with the other legacies upon a deficiency of assets. It commences, as a rule, from
Contingent remainder
the death of the testator and twenty-one years thereafter plus a period of gestation, and see also CONTINGENT LEGACY, and s. 163 (English) L.P. Act, 1925. The whole subject of contingent remainders, together with that of executory … Contingent remainder, a remainder limited so as to depend on an event or condition which may never happen or be performed, or which may not happen or be performed till after the
asset
of property owned admitted asset : an asset allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry appointive asset : an asset in an estate … asset [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 : the entire property of a person, business organization,
- ‹ Prev
- Next ›
Try the research workspace - 7 days free