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- Legacy

vested, testator, death and paid

- LEGACY, is a bequest of a sum of mo ney, or any personal effects of a testator, and these are to be paid by his represen tative, after all the debts of the deceased are discharged, as far as the assets, or pro perty liable to payment of debts and le gacies, will extend. All the goods and chattels of the deceased are by law vested in the representative, who is bound to see whether there be left a sufficient fund to pay the debts of the testator, which, if it should prove inadequate, the pecuniary legacies must proportionably abate ; a specific legacy, however, is not to abate, sinless there be insufficient with out it to pay debts; that is, the general legacies must all be exhausted first. If the legatee die before the testator, it will in general be a lapsed legacy, and fall into the general fund, as it will also where it is given upon a contingency, as to A B, if he shall attain twenty-one. Where, however, from the general im port of the will, it can be collected that the testator intended it a vested legacy, it will go to the representative of the de ceased legatee. Thus, if a legacy is made payable, or to be paid, to the legatee at a certain age, and he die under that age, it is a vested and transmissible inte rest in him ; but it is otherwise, if it is ge to him at or when he attains such age. If the legacy is to bear interest, it is vested, though the words payable are omitted. So, if it is to A for life, and af

ter the death of A to B, the legacy to B is vested in B, upon the death of the tes and will not lapse by the death of B in the lifetime of A.

In case of a vested legacy due imme diately, and charged on land, or money in the funds, which yield an immediate profit, interest shall be payable from the death of the testator ; but if it be charged lin the personal estate only of the testa tor, which cannot be collected in, it will carry interest only from the end of the year after the death of the testator. A legacy to an infant ought not to be paid to his father ; a legacy to a married wo man can only be .paid to her husband ; and executors alp' not bound to pay it le gacy without security to refund.

When all the debts and particular le gacies are discharged, the residue or sur plus must be paid to the residuary lega tee, if any be so appointed in the will ; bid if there be none appointed or in tended, it will go to the executor or next of kin. When this residue does not go to the executor, it is to be distributed among the intestate's next of kin, accord ing to the statute of distributions, except it is otherwise disposable by particular customs, as those of London, York, &c.

See EXECUTOR.