Specific Legacy
(n) Specific legacy is the gift of a property by specifying the property by its name or identification made by a will to any person or group of persons specified in the will.
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specific legacy
n. a gift in a will of a certain article or property to a certain person or persons.
SPECIFIC LEGACY. A bequest of a particular thing.
2. It follows that a specific legacy may be of animals or inanimate things, provided they are specified and separated from all other things; a specific legacy may therefore be of money in a bag, ...
Specific legacy
Definition
: a legacy payable only from a specific fund or asset in the estate
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A specific legacy is a bequest of a particular thing or money specified and distinguished from all other things of the same kind; e.g.
A specific legacy is defined as a legacy of a particular thing, specified and distinguished from all others of the same kind belonging to the testator; if such legacy fails, resort cannot be had to other property of the testator.
Unlike a specific legacy, a general legacy is not subject to ademption, extinction that results when a testator revokes his or her intention to leave designated property to another either by altering the property or removing it from the estate.
A specific legacy bequeaths a designated object, e.g., a named painting. A general legacy is a sum of money to be paid out of any assets of the estate. The residuary legacy is all of the deceased's personal property otherwise undistributed.
 See also: Legacy, Will, Property, Estate, Assets
  
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