Contingent Legacy Law and Legal Definition
If a legacy is given to a person, when that person arrives at the age of twenty-one, it is a contingent legacy; and if the legatee dies before that time, the legacy is lapsed. The testator, however, may prevent the legacy from lapsing; but to do so, he must not only declare his intention to that effect, but he must likewise mention the person who is to take it. [Kent v. Watson, 17 N.C. 366 (N.C. 1833)].
Legal Definition list
Related Legal Terms
- Absolute Legacy
- Accumulated Legacy
- Accumulative Legacy
- Actus Inceptus Cujus Perfectio Pendet Ex Voluntate Partium Revocari Potest, Si Autem Pendet Ex Voluntate Tertiae Personae, Vel Ex Contingenti, Revocar
- Additional Legacy
- Alternate Legacy
- Conditional Legacy
- Contingent
- Contingent Annuity
- Contingent Beneficiary
