residue

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residue

n. in a will, the assets of the estate of a person who has died with a will (died testate) which are left after all specific gifts have been made. Typical language: "I leave the rest, residue and remainder [or just residue] of my estate to my grandchildren." If the residue is not given to any beneficiary it will be distributed pursuant to the laws of descent and distribution. (See: will, residuary bequest, descent and distribution)

See: balance, overage, remainder, residual, reversion, surplus

residue

in the law of succession, the part of an estate left over after legacies and bequests have been met.

RESIDUE. That which remains of something after taking away a part of it; as, the residue of an estate, which is what has not been particularly devised by will.
     2. A will bequeathing the general residue of personal property, passes to the residuary legatee everything not otherwise effectually disposed of and it makes no difference whether a legacy falls into the estate by lapse, or as void at law, the next of kin is equally excluded. 15 Ves. 416; 2 Mer. 392. Vide 7 Ves. 391; 4 Bro. C. C. 55; 1 Bro. C. C. 589; Rop. on Leg. Index, h.t.; Worth. on Wills, 454.

References in periodicals archive ?
Mark Lutschaunig, AVMA Governmental Relations Division director, applauded lawmakers for including needed funding for the Veterinary Medicine Loan Repayment Program, the Food Animal Residue Avoidance Databank, the Agriculture and Food Research Initiative, and for Animal Health and Disease Research.
The secretary also added that the quarantine will follow the recommended guidelines from the Food Animal Residue Avoidance and Depletion Program, as follows:
The Food Animal Residue Avoidance Databank (FARAD) -- used by veterinarians, livestock producers, and state and federal regulatory and extension specialists to ensure that drug, environmental and pesticide contaminants do not end up in meat, milk, and eggs -- began shutting down yesterday.