Legal Definitions - in bonis defuncti

in bonis defuncti

This Latin phrase historically refers to items or assets that were part of a person's estateafter their death. It signifies property that belonged to the deceased individual at the moment of their passing, which then becomes subject to the legal process of probate and distribution according to their will or the laws of intestacy.

• Example 1: Personal Belongings

  A renowned artist passes away, leaving behind a studio full of her unfinished paintings, her collection of rare art books, and her personal tools. All these items are considered in bonis defuncti because they were her personal property at the moment of her death and now form part of her estate, which will be managed and distributed to her heirs.

• Example 2: Financial Assets

  Upon a person's death, their bank accounts, investment portfolios, and any outstanding debts owed to them (like a personal loan they had made to a friend) are all classified as in bonis defuncti. These financial assets and claims belonged to them at the time of their death and must now be accounted for and handled by the executor or administrator of their estate.

• Example 3: Real Estate

  An individual owned a rental property and a primary residence outright when they died. Both properties are considered in bonis defuncti. They were real estate assets titled solely in the deceased's name at the time of their passing, and their ownership will now be transferred to the beneficiaries designated in their will or by applicable inheritance laws, after the estate process is complete.