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LAPSED LEGACY

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

A legacy is said to be lapsed or extinguished, when the legatee dies before the testator, or before the condition upon which the legacy is given has been performed, or before the time at which it is directed to vest in interest has arrived. One which is extinguished. The extinguishment may take place for various reasons. See Legacy, Lapsed. 2. A distinction has been made between a lapsed devise of real estate and a lapsed legacy of personal estate. The real estate which is lapsed does not fall into the residue, unless so provided by the will, but descends to the heir at law; on the contrary, personal property passes by the residuary clause where it is not otherwise disposed of.

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