testamentary condition
A condition that must be satisfied before a gift made in a will becomes effective.
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Search Results for: testamentary condition
pro non scripto
pro non scripto (proh non skrip-toh). [Latin] As not written; as though it had not been written. • The phrase usu. referred to testamentary conditions that a court would disregard because the conditions were impossible, illegal, or meaningless.
survival clause
survival clause. Wills & estates. A testamentary provision conditioning a bequest on a beneficiary’s living for a specified period, often 60 days, after the testator’s death. • If the beneficiary dies within the stated period, the testamentary gift usu. accrues to the residuary estate. — Also termed survivorship clause. Cf. SIMULTANEOUS-DEATH CLAUSE.
instrument
instrument. 1. A written legal document that defines rights, duties, entitlements, or liabilities, such as a contract, will, promissory note, or share certificate. “An ‘instrument’ seems to embrace contracts, deeds, statutes, wills, Orders in Council, orders, warrants, schemes, letters patent, rules, regulations, bye-laws, whether in writing or in print, or partly in both; in fact,
lapse
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:
jus exigendi
jus exigendi (j[schwa]s ek-si-jen-dI). [Latin] Scots law. A creditor’s right to enforce immediate payment of a debt. Cf. JUS CREDITI. “For example, where a testator directs his testamentary trustees to pay a certain legacy, which he has unconditionally bequeathed to the legatee, six months after his (the testator’s) death, the legacy vests on the death