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residuary |
Also found in: Financial, Wikipedia | 0.02 sec. |
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residuary adjective excess, excessive, left over, remaining, residual, resultant, spare, surplus Associated concepts: residuary bequest, residuary clause, residuary devise, residuary estate, residuary fund, residuary interest, residuary legacy, residuary legatee See also: alluvion, net, residual, superfluous LEGACY, RESIDUARY. That which is of the remainder of an estate after the payment of all the debts and other legacies. Madd. Ch. P. 284. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Example: A's will leaves certain assets to his surviving spouse, B, and his residuary estate equally to his two children, C and D. But if she is subject to such a vow, then I give my residuary estate to the order. If the decedent wanted to provide for his sister if she left the order, the will could have stated: "In the event that my sister is no longer subject to a vow of poverty at my death, I give her my residuary estate, but if she is subject to such a vow, I give my residuary estate to the order. |
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