testamentary disposition

A testamentary disposition is any gift of any property by a testator under the terms of a 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,[http://www.mortgageintroducer.com/blogengine/post/Home-reversions-and-their-place-in-the-market.aspx Home Reversions and their place in the market] {{webarchive|url=https://web.archive.org/web/20150325212949/http://mortgageintroducer.com/blogengine/post/Home-reversions-and-their-place-in-the-market.aspx |date=2015-03-25 }} 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