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legacy
by 趙永祥 2015-12-13 08:48:36, Reply(0), Views(267)

Gift of personal property through a will by the writer of the will (the 'testator') to an individual ...
BusinessDictionary.com
TERM OF THE DAYDECEMBER 2, 2015
legacy
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Gift of personal property through a will by the writer of the will (the 'testator') to an individual or organization(the 'legatee'). Legacies are generally classified as (1) Demonstrative: paid out of specific funds, or portioned out of a specific property. (2) General: not clearly identified, such as, "a house." (3) Pecuniary: specified sum of money or an annuity. (4) Residuary: what is ... Read more

USAGE EXAMPLE
When my grandmother passed away, she left me a legacy in her will, including some of her money and her summer house.
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