General Legacy
GENERAL LEGACY
A monetary gift, payable out of the collective assets of the estate of a testator—one who makes a will—and not from a designated source.
Unlike a specific legacy, a general legacy is not subject to ademption, extinction that results when a testator revokes his or her intention to leave designated property to another either by altering the property or removing it from the estate.
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Estate , ESTATE
The degree, quantity, nature, and extent of interest that a person has in real andpersonal property. Such terms as estate in land, tenement, a… Entail , en·tail • v. / enˈtāl/ [tr.] 1. involve (something) as a necessary or inevitable part or consequence: a situation that entails considerable risks. ∎… Real Estate , Land, buildings, and things permanently attached to land and buildings. Also called realty and real property.
Real estate is the modern term for land… Executors And Administrators , EXECUTORS AND ADMINISTRATORS
Those who are designated by the terms of a will or appointed by a court of probate to manage the assets and liabilities… Slough Estates Plc , 234 Bath Road
Slough SL1 4EE
United Kingdom
Telephone: +44 (1753) 537 171
Fax: +44 (1753) 5 820 585
Web site: http://www.sloughestates.com
Public Com… Freehold , free·hold / ˈfrēˌhōld/ • n. permanent and absolute tenure of land or property with freedom to dispose of it at will. Often contrasted with leasehold.…
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General Legacy