A testamentary disposition is any gift of any
property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...
by a testator under the terms of a
will.
Types
Types of testamentary dispositions include:
*
Gift (law), assets that have been legally transferred from one person to another
*
Legacy, testamentary gift of personal property, traditionally of money but may be real or personal property
*
Life estate
In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death when ownership of the property may ...
, a concept used in common and statutory law to designate the ownership of land for the duration of a person's life
* Demonstrative legacy, a gift of a specific sum of money with a direction that is to be paid out of a particular fund
See also
*
Testator
A testator () is a person who has written and executed a last will and testament that is in effect at the time of their death. It is any "person who makes a will."Gordon Brown, ''Administration of Wills, Trusts, and Estates'', 3d ed. (2003), p. 556 ...
*
Codicil (will)
References
Wills and trusts
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