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Definition of legacy legal. This distinction however will not be permitted to defeat the intent of a testator one who makes a will and these terms can be applied interchangeably to either personal property or real property if the context of the will. Legacy a gift of personal as opposed to real property by will. Legacy definition a gift of property especially personal property as money by will. Legacies may be specific general or demonstrative.
Legacy definition is a gift by will especially of money or other personal property. This word though properly applicable to bequests of personal. A disposition of personal property by will. Legacy law and legal definition the term legacy has different meanings but in a legal sense it is used to refer to a bequest in a will.
Money or property that you receive from someone after they die. Cogswell 5 allen mass 557. A bequest or gift of personal property by last will and testament browne v. A legacy is money or property which someone leaves to you when they die.
How to use legacy in a sentence. Legacy business means the real estate sales and property management business described in item 1 description of business contained in the parent s annual report on form 10 k for fiscal year ended december 31 2018 as filed with the sec and all related sales training materials copyrights trademarks and trade names currently in use in connection with the legacy business. Meaning pronunciation translations and examples. Legal definition of legacy.
In a narrow technical sense a legacy is distinguishable from a devise a gift by will of real property. A bequest or gift of goods or chattels by testament. A gift of money or of personal property title to which is passed under the terms of a will. A specific legacy is a gift of some ascertained item or thing forming part of the testator s estate that by its description is distinguished from the mass of his personal estate.
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