Legacy

A bequest of goods and chattels; a gift of personalty by wilL Contingent legacy: a legacy in which no immediate interest passes to the legatee, but the title to which depends on the legatee being in a condition to receive it when due. Cumulative legacy: a legacy given in addition to one given before. Demonstrative legacy: a legacy directed to be paid out of a particular fund. General legacy: a legacy payable out of any assets. Lapsed legacy: a legacy which has failed through the death of the legatee before the testator, or before a given age or event Residuary legacy: a bequest of all of the personal estate of the testator not otherwise disposed of. Specific legacy: a legacy of a particular piece of property. Vested legacy: