That part of an estate which remains after all debts are paid and gifts have been given. … [Read more...] about RESIDUARY DEVISE
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RESOLUTIVE
In Scotch conveyancing. Having the quality or effect of resolving or extinguishing a right. Bell. Resoluto jure concedentis, resolvitur jus concessum. The right of the grantor being extinguished, the right granted is extinguished. Mackeld. Rom. Law, 179; Broom, Max. 467. … [Read more...] about RESOLUTIVE
RESIDUARY DEVISEE
The person who takes all the property that remains in the estate after all debts are paid and gifts and bequests satisfied. … [Read more...] about RESIDUARY DEVISEE
RESOLUTORY CONDITION
On which has for its object, when accomplished, the revocation of the principal obligation; for example, I will sell you my crop of cotton, if my ship America does not arrive in the United States, within six months. My ship arrives in one month, my contract with you is revoked. … [Read more...] about RESOLUTORY CONDITION
RESIDUARY ESTATE
Referring to property that still remains in the estate of the deceased after all the fees and taxes have been made and the and specific bequests and distributions made. The residuary estate includes any gifts or bequests that fail or lapse. For example, if a car is left to John and the remainder of the estate to Jill, and John dies prior to the deceased without an alternate for … [Read more...] about RESIDUARY ESTATE