Legacy Law & Legal Definition
The term legacy has different meanings, but in a legal sense, it is used to refer to a bequest in a will. Technically, legacy does not include real property (which is a "devise"), so legacy usually refers to a gift of personal property or money to a beneficiary (legatee) of a will.
A residuary legacy is a bequest of all the testator's personal estate, not otherwise effectually disposed of by his will. A vested legacy is one by which a certain interest, either present or future in possession, passes to the legatee. A contingent legacy is one which is so given to a person, that it is uncertain whether any interest will ever vest in him.
A legacy may be lost by abatement, ademption and lapse. When the legatee dies before the testator or before the condition upon which the legacy is given be performed or before the time at which it is directed to vest in interest have arrived, the legacy is lapsed or extinguished.
Legal Definitions
Search Definitions
Get a Term Defined
- Request a legal definition! Submit a term you need defined.
- » Request Legal Definition
Submit a Definition
- Submit a Definition Help us build our database. Free listings for attorneys.
- » Submit a Definition
Help Build USLegal
- Join our Team and help build USLegal. Many opportunities for participation so Join our Network.
Build USLegal
Read a Law Digest
- Need to read the law or find an answer to a legal question? Visit our Law Digest for the largest selection of law digests and answers available.
Go to Law Digest
Form Packages
- Select from our most popular legal form packages.
- » Bankruptcy
- » Contract for Deed
- » Divorce
- » Employment Packages
- » Home Sales
- » Incorporation
- » LLC Formation
- » Landlord Tenant
- » Mutual Wills
- » Name Change
- » Personal Planning
- » Partnerships
- » View All Packages
Legal Life
- Organize your legal life today! View our free online guide to creating a Life Documents File and related products.
- » Life Documents File
- » Personal Planning Package
- » Life Documents Packages
- » New Parents
- » Newlyweds
- » Baby Boomers
- » Military
- » Other
Form Drafting
- Can′t find the form you need, or need a form we offer revised for your situation? Submit your request and our attorneys will review the request and let you know if the form can be provided.
Submit a drafting request...
