21:15
Feel like I can finally stop holding my breath!! Whew!!!
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LSDefine
Simple English definitions for legal terms
testamentary transfer
Read a random definition: serious and willful misconduct
A quick definition of testamentary transfer:
A testamentary transfer is when someone gives away or passes on their property or belongings through their will. This means that after they pass away, their things will go to the people or organizations they have chosen. It's like leaving a special gift for someone after you're gone.
A more thorough explanation:
Definition: A transfer of property made through a will.
For example, if someone writes a will and leaves their house to their child, that is a testamentary transfer. The transfer only takes effect after the person's death.
This type of transfer is different from an inter vivos transfer, which is a transfer made during the transferor's lifetime. Testamentary transfers are also different from gifts, which are transfers made without expecting anything in return.