Lapsed legacy
LAPSED LEGACY. One which is extinguished. The extinguishment may take place
for various reasons. See Legacy, Lapsed.
2. A distinction has been made between a lapsed devise of real estate
and a lapsed legacy of personal estate. The real estate which is lapsed does
not fall into the residue, unless so provided by the will, but descends to
the heir at law; on the contrary, personal property passes by the residuary
clause where it is not otherwise disposed of. 2 Bouv. Inst. 2154-6.