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Legacy

LEGACY

A disposition ofpersonal propertyby will.

In a narrow technical sense, a legacy is distinguishable from a devise, a gift by will of real property. This distinction, however, will not be permitted to defeat the intent of a testator—one who makes a will—and these terms can be applied interchangeably to either personal property or real property if the context of the will demonstrates that this was the intention of the testator.

A general legacy, a demonstrative legacy, and a specific legacy represent the three primary types of legacies.

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legacy

legacy, bequest by will of personal property, similar in many respects to a giftcausa mortis. A legacy ordinarily is distinguished from a devise, which transfers real property by will. The person who receives a legacy is called a legatee. Legacies are of various types. A specific legacy bequeaths a designated object, e.g., a named painting. A general legacy is a sum of money to be paid out of any assets of the estate. The residuary legacy is all of the deceased's personal property otherwise undistributed.

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legacy

leg·a·cy / ˈlegəsē/ • n. (pl. -cies) an amount of money or property left to someone in a will. ∎  a thing handed down by a predecessor: the legacy of centuries of neglect. • adj. Comput. denoting software or hardware that has been superseded but is difficult to replace because of its wide use.

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legacy

legacy †legateship XIV; bequest XV. — OF. legacie — medL. lēgātia legateship, f. lēgātus LEGATE. In the second and current sense repr. AL. lēgantia, f. lēgāre (see LEGATE).

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legacy

legacy •radiancy •immediacy, intermediacy •expediency • idiocy • saliency •resiliency • leniency •incipiency, recipiency •recreancy • pruriency • deviancy •subserviency • transiency • pliancy •buoyancy, flamboyancy •fluency, truancy •constituency • abbacy • embassy •celibacy • absorbency •incumbency, recumbency •ascendancy, intendancy, interdependency, pendency, resplendency, superintendency, tendency, transcendency •candidacy •presidency, residency •despondency • redundancy • infancy •sycophancy • argosy • legacy •profligacy • surrogacy •extravagancy • plangency • agency •regency •astringency, contingency, stringency •intransigency • exigency • cogency •pungency •convergency, emergency, insurgency, urgency •vacancy • piquancy • fricassee •mendicancy • efficacy • prolificacy •insignificancy • delicacy • intricacy •advocacy • fallacy • galaxy •jealousy, prelacy •repellency • valency • Wallasey •articulacy • corpulency • inviolacy •excellency • equivalency • pharmacy •supremacy • clemency • Christmassy •illegitimacy, legitimacy •intimacy • ultimacy • primacy •dormancy • diplomacy • contumacy •stagnancy •lieutenancy, subtenancy, tenancy •pregnancy •benignancy, malignancy •effeminacy • prominency •obstinacy • pertinency • lunacy •immanency •impermanency, permanency •rampancy • papacy • flippancy •occupancy •archiepiscopacy, episcopacy •transparency • leprosy • inerrancy •flagrancy, fragrancy, vagrancy •conspiracy • idiosyncrasy •minstrelsy • magistracy • piracy •vibrancy •adhocracy, aristocracy, autocracy, bureaucracy, democracy, gerontocracy, gynaecocracy (US gynecocracy), hierocracy, hypocrisy, meritocracy, mobocracy, monocracy, plutocracy, technocracy, theocracy •accuracy • obduracy • currency •curacy, pleurisy •confederacy • numeracy •degeneracy • itinerancy • inveteracy •illiteracy, literacy •innocency • trenchancy • deficiency •fantasy, phantasy •intestacy • ecstasy • expectancy •latency • chieftaincy • intermittency •consistency, insistency, persistency •instancy • militancy • impenitency •precipitancy • competency •hesitancy • apostasy • constancy •accountancy • adjutancy •consultancy, exultancy •impotency • discourtesy •inadvertency • privacy •irrelevancy, relevancy •solvency • frequency • delinquency •adequacy • poignancy

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