antilapse statute. Wills & estates. A statute that substitutes certain heirs of some types of testamentary benefi-ciaries when the beneficiary has predeceased the testator and permits them to take the gift, which would otherwise fail and thus pass to the residuary beneficiary (if any) or to the intestate heirs. • Under the common law and […]
A legacy to a legatee who dies either before the testator dies or before the legacy is payable. • It falls into the residual estate unless the jurisdiction has an antilapse statute. — Also termed failed legacy; failed gift. See ANTILAPSE STATUTE. [Cases: Wills 774–777. C.J.S. Wills §§ 1791–1808.]
lapse, n. 1. The termination of a right or privilege because of a failure to exercise it within some time limit or because a contingency has occurred or not occurred. 2. Wills & estates. The failure of a testamentary gift, esp. when the beneficiary dies before the testator dies. See ANTILAPSE STATUTE. Cf. ADEMPTION. [Cases: