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bequest definition - legal

n

  1. A gift of personal property (usually other than money) by means of a will. Also, any personal property given by means of a will. See also devise and legacy.
  2. In a broader sense, any gift of property by means of a will. Also, any property given by means of a will, including a devise or a legacy.
conditional bequest
A bequest that is effective or continues unless some particular event does or does not occur. For example, a bequest from a parent to a child that is to effective only if the child is still a minor at the time of the parentÂ’s death is a conditional bequest, because the parent may die after the child reaches adulthood.
executory bequest
A bequest that does not take effect until after the occurrence of a particular event. For example, a bequest from a parent to a child that is effective only if the child is 18 years of age or older at the time of the parentÂ’s death is an executory bequest, because the child must have first reached his 18th birthday to receive it.
general bequest
A bequest of a general type of property rather than of a specific item of personal property. For example, a bequest of “furniture” rather than “oak chair.” A bequest to be paid out of the general assets of the testator’s estate.
pecuniary bequest
See legacy.
residuary bequest
A bequest of what remains in the testatorÂ’s estate after the payment of debts and the satisfaction of all other bequests.
specific bequest
. A bequest of a specific item of personal property.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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