Conditional Legacy - Law Dictionary Search Results
Conditional legacy
Conditional legacy, a bequest whose existence depends upon the happening or not
Cy-pres
amodification of the strictness of the Common Law as to conditions precedent in regard to personal legacies, which is at once … condition satisfies it, although not literally fulfilled. Thus, if a legacy upon a condition precedent require the consent of three persons
In terrorem
In terrorem (by way of terrifying). Where a condition which the law will not carry out is attached to … not carry out is attached to a gift or a legacy without a gift over, as where a legacy otherwise lawful
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Absolute legacy
Absolute legacy, means a legacy given without condition and intended to vest immediately, Black Law Dictionary, 7th Edn.,
Vested in interest
enjoyment, as reversions, vested remainders, such executory devises, future uses, conditional limitations, and other future interests, the present right of which … may be uncertain or conditional. See following titles and CONTINGENT LEGACY; CONTINGENT RE-MAINDER.
contingent
not completely foreseen [a fund] 3 : dependent on or conditioned by something else [a claim] [a legacy on the marriage]
Appropriation, powers of
(including things in action) of the deceased in its actual condition or state of investment at the time of appropriation in … the time of appropriation in or towards satisfaction of any legacy or interest or share in his property as to the
Annuity
to create and estate tail, and passed an absolute interest conditional only upon an heir of the body being born. But … be transmitted, by will. A created annuity is a general legacy, and will abate with the other legacies upon a deficiency
asset
allowed by law to be included in determining the financial condition of an insurance company compare nonadmitted asset in this entry … [back-formation from assets, singular, sufficient property to pay debts and legacies, from Anglo-French asetz, from Old French asez enough] 1 :
Contingent remainder
remainder limited so as to depend on an event or condition which may never happen or be performed, or which may … thereafter plus a period of gestation, and see also CONTINGENT LEGACY, and s. 163 (English) L.P. Act, 1925. The whole subject
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