Specific Legacy - Law Dictionary Search Results
Home Dictionary Name: specific legacyspecific legacy
specific legacy see legacy ...
Specific legacy
Specific legacy. See LEGACY....
Demonstrative legacy
Demonstrative legacy, means where a testator bequeaths a certain sum of money, or a certain quantity of any other commodity and refers to a particular fund or stock so as to constitute the same the primary fund or stock out of which payment is to be made, the legacy is said to be demonstrative. [Succession Act, 1925 (39 of 1925), s. 150]A legacy of quantity is ordinarily a general legacy; but there are legacies of quantity in the nature of specific legacies, as of as much money, with reference to a particular fund for payment. This kind of legacy is called by the civilians a demonstrative legacy, and it is so far general, and differs so much in effect from one properly specific, that if the fund be called in or fail, the legatee will not be deprived of his legacy, but be permitted to receive it out of the general assets; yet the legacy is so far specific that it will not be liable to abate with general legacies upon a deficiency of assets, Consult Roper on Legacies; Theobald on Wills....
legacy
legacy pl: -cies [Medieval Latin legatio, from Latin legare to bequeath] : a gift of property by will ;specif : a gift of personal property by will : bequest see also ademption compare devise conjoint legacy in the civil law of Louisiana : a legacy by a single disposition to more than one legatee or of indivisible property to more than one legatee de·mon·stra·tive legacy [di-mÄ n-strə-tiv-] : a legacy payable from a designated fund or asset or from the general assets of the estate to the extent the specified fund or asset fails to satisfy the legacy general legacy : a legacy payable out of the general assets of the estate legacy under a universal title in the civil law of Louisiana : a legacy that consists of a specified proportion (as one-half), a specified type (as movables), or a specified proportion of a specified type of the testator's property par·tic·u·lar legacy in the civil law of Louisiana : any legacy that is not a universa...
Ademption
Ademption [fr. adimo, Lat.], revocation; a taking away of a specific legacy, i.e., if a testator, after having given a legacy of this nature by his will, alienate the subject of it during his life, it is an ademption and the legacy is gone. As to charges on specific legacies of personal estate, see s. 35 of the Administration of Estates Act, 1925. See Theobald on Wills. The term is also used to denote the satisfaction of a legacy to a child by the testator subsequently giving the child a portion on his or her marriage. See SATISFACTION.Means the destruction or extinction of a legacy or bequest by reason of a bequeathed asset's ceasing to be part of the estate at the time of the testator's death; a beneficiary's forfeiture of a legacy or bequest that is no longer operative. Also termed extinguishment of legacy, Black Law Dictionary, 7th Edn., p.39...
Cumulative legacies
Cumulative legacies, legacies so called to distinguish them from egacies which are merely repeated. In the construction of testamentary instruments, the question often arises, whether where a testator has twice bequeathed a legacy to the same person, the legatee is entitled to both, or only one of them; in other words, whether the second legacy must be considered as a mere repetition of the first, or as cumulative, i.e., additional. In determining this question, the intention of the testator, if it appears on the face of the instrument, prevails; but if it does not so appear, the following rules of contruction have been laid down:(I.) If the same specific thing be bequeathed tweice to a legatee, whether by the same instrument or not, he is entitled to one legacy only.(II.) If the legacies be not of a specific thing, but of quantity, e.g., a sum of money--(1) If they are bequeathed by the same instrument, and are of equal amount, the second legacy is nto cumulative, but the legatee is e...
Abatement
Abatement, a making less:-(1) Abatement of Freehold.-The title of a real action which has been abolished. This takes place where a person dies seised of an inheritance, and before the heir or devisee enters, a stranger, having no right, makes a wrongful entry and gets possession of it. Such an entry is technically called an abatement, and the stranger an abater. It is, in fact, a figurative expression, denoting that the rightful possession or freehold of the heir or devisee is overthrown by the unlawful intervention of a stranger. Abatement differs from intrusion, in that it is always to the prejudice of the heir or immediate devisee, whereas the latter is to the prejudice of the reversioner or remainder man: and disseisin differs from them both, for to disseise is to put forcibly or fraudulently a person seised of the freehold out of possession, Co. Litt. 277a.(2) Abatement of Nuisances.-A remedy allowed by law to a person injured by a nuisance to remove or put an end to it by his own...
residue
residue : something that remains after a part is taken, separated, or designated ;specif : the part of a testator's estate remaining after the satisfaction of all debts, charges, taxes, and legacies other than residuary legacies ...
ademption
ademption [Latin ademptio, from adimere to take away, from ad to + emere to buy, obtain] 1 : the revocation of a gift in a will inferred from the disposal (as by sale) of the property by the maker of the will before he or she dies 2 : the revocation of a gift in a will inferred from the maker's gift before his or her death of the same or similar property to the recipient named in the will compare advancement NOTE: Only gifts that are characterized as specific devises, bequests, or legacies are subject to ademption. ...
Legacy
Legacy [fr. legatum, Lat.]. A legacy is a gift of personalty by will, and, arising as it does from the mere bounty of the testator, it is postponed to the claims of creditors. There are four kinds of legacies:-(1) General, when it does not amount to a bequest of any particular thing or money, as distinguished from all others of the same kind; as if a testator give A. 50l. or a diamond ring, not referring to any particular diamond ring as distinguished from others. (2) Specific, when it is a bequest of a particular thing, or sum of money, or debt, as distinguished from all others of the same kind, as if a testator give B. 'my diamond ring.' (3) Demonstrative, when it is in its nature a general legacy, but there is a particular fund pointed out to satisfy it, as if a testator bequeath 1,000l. out of his Reduced Bank Three per Cents. And (4) Cumulative, or substitutional, when a testator by the same testamentary instrument, or by different testamentary instruments, has bequeathed more tha...
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