20:59
ALSO CONGRATS!
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
reformation condition
Read a random definition: uterine brother
A quick definition of reformation condition:
A bequest is a gift of property made in a will. There are different types of bequests, such as a specific bequest of a particular item, a general bequest of a benefit, or a residuary bequest of the remaining estate after other gifts have been made. A conditional bequest is one that depends on a certain event happening, such as a daughter receiving income from a farm until she remarries. A charitable bequest is a gift to a philanthropic organization. A pecuniary bequest is a gift of money.
A more thorough explanation:
A reformation condition is a type of conditional bequest in which the effectiveness or continuation of the bequest depends on the occurrence or nonoccurrence of a particular event. If a condition prohibits certain legal conduct, such as using tobacco or growing a beard, it is sometimes termed a reformation condition or character-improvement condition.
For example, a testator may leave a bequest of “the income from the farm to my daughter, Betty, until she remarries.” In this case, the bequest is conditional on Betty's marital status. If she remarries, the bequest would no longer be effective.
Another example of a reformation condition could be a bequest that is conditional on the beneficiary completing a certain educational degree or achieving a certain level of success in their career.
Overall, a reformation condition is a way for a testator to ensure that their assets are used in a way that aligns with their values and beliefs.