Testamentary_disposition

Testamentary disposition

Testamentary disposition

Gift under the terms of a will

A testamentary disposition is any gift of any property by a testator under the terms of a will.

Types

Types of testamentary dispositions include:

  • Gift (law), assets that have been legally transferred from one person to another
  • Legacy, testamentary gift of personal property, traditionally of money but may be real or personal property
  • Life estate,[1] a concept used in common and statutory law to designate the ownership of land for the duration of a person's life
  • Demonstrative legacy, a gift of a specific sum of money with a direction that is to be paid out of a particular fund

See also

References

  1. [1]
    Home Reversions and their place in the market Archived 2015-03-25 at the Wayback Machine Chris Prior. Mortgage Introducer 18 February 2014. Retrieved 2015-03-12


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