RESIDUARYESTATE
Residuary estate
A residuary estate, in the law of wills, is any portion of the testator's estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails. 12 It is also known as a residual estate or simply residue.The above text is a snippet from Wikipedia: Residuary estate
and as such is available under the Creative Commons Attribution/Share-Alike License.
residuary estate
Noun
- Any portion of the testator's estate that is not specifically devised to someone in the will, or any property that is part of such a specific devise that fails (for example, due to the death of the intended beneficiary preceding that of the testator).
The above text is a snippet from Wiktionary: residuary estate
and as such is available under the Creative Commons Attribution/Share-Alike License.