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, re ...
by a testator under the terms of a
will
Will may refer to:
Common meanings
* Will and testament, instructions for the disposition of one's property after death
* Will (philosophy), or willpower
* Will (sociology)
* Will, volition (psychology)
* Will, a modal verb - see Shall and 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,
Home Reversions and their place in the market
Chris Prior. ''Mortgage Introducer'' 18 February 2014. Retrieved 2015-03-12 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. ...
* Codicil (will)
References
Wills and trusts
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