16:32
@bigfatsloth: a puerto rican woman
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LSDefine
Simple English definitions for legal terms
legatary
Read a random definition: private annuity
A quick definition of legatary:
A legatee is someone who is named in a will to receive personal property or money after someone dies. They can also be someone who is given real property in a will. There are different types of legatees, such as a general legatee who receives a specific amount of money from the estate, a residuary legatee who receives what is left over after all other gifts have been given, and a specific legatee who receives a specific item or property. A universal legatee is a type of residuary legatee who receives everything left in the estate.
A more thorough explanation:
Definition: Legatee is a person who is named in a will to receive personal property or a bequest. It can also refer to a person who is given a devise of real property.
- John was named as a legatee in his grandfather's will and received a sum of money.
- Susan was the specific legatee of her aunt's antique collection.
- David was the residuary legatee of his father's estate and received the remaining assets after all debts and bequests were paid.
These examples illustrate how legatee refers to a person who receives property or assets through a will or bequest. The first example shows how John received a sum of money, while the second example shows how Susan received a specific item. The third example demonstrates how David received the remaining assets of his father's estate.