General Legacy

General Legacy

A monetary gift, payable out of the collective assets of the estate of a testator—one who makes a will—and not from a designated source.

Unlike a specific legacy, a general legacy is not subject to Ademption, extinction that results when a testator revokes his or her intention to leave designated property to another either by altering the property or removing it from the estate.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
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References in periodicals archive ?
A will can provide three types of legacies: a specific legacy, a general legacy, and a residual legacy.
A general legacy disposes of a certain amount or value of property.
If a specific or general legatee is not alive at the time of the testator's death, the specific or general legacy lapses and passes to the residual legatee.
Chapter 7: Ownership and transfer of property

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