Specific Legacy

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Specific Legacy

A gift by will of designated Personal Property.

A specific legacy is revoked if the testator—the maker of the will—no longer owned the property at the time of his or her death or the property no longer existed. In some jurisdictions, a court will continue a provision for a specific legacy as one for a demonstrative legacy if it is clear that the testator intended the heir to receive the gift in any event.

specific legacy

n. a gift in a will of a certain article or property to a certain person or persons. (See: specific bequest, specific devise, will, legacy)

SPECIFIC LEGACY. A bequest of a particular thing.
     2. It follows that a specific legacy may be of animals or inanimate things, provided they are specified and separated from all other things; a specific legacy may therefore be of money in a bag, or of money marked and so described; as, I give two eagles to A B, on which are engraved the initials of my name. A specific legacy may also be given out of a general fund. Touch. 433 Amb. 310; 4 Ves. 565; 3 Ves. & Bea. 5. If the specific article given be, not found among the assets of the testator, the legatee loses his legacy; but on the other hand, if there be a deficiency of assets, the specific legacy will not be liable to abate with the general legacies. 1 Vern. 31; 1 P. Wms. 422; 3 P. Wms. 365; 3 Bro. C. C. 160; vide 1 Roper on Leg. 150; 1 Supp. to Ves. jr. 209. Id. 231; 2 Id. 112; and articles Legacy; Legatee.

References in periodicals archive ?
A specific legacy disposes of a specific piece or pieces of property.
In so doing, she produces a strong account of that more specific legacy, threading her way through some of the most promising elements of ecofeminist thought: its (generally) well-developed analyses of the conceptual frameworks of value dualism and hierarchy in which gender and nature are produced and understood; its (generally) reflexive orientation, in which epistemological and ethical frameworks find their origins and/or outcomes in local social and political struggles; and its (generally) interesting appropriations of, and challenges to, critical theory, Kantian ethics, object-relations psychology, feminist standpoint politics, and deep ecology, to name a few.
The tax liability would be the same if the purchaser in this example had bought the bond in his name alone, and the nephew had received the bond as a specific legacy and had it reissued in his name.

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