Residuary clause

Residuary clause – in the legal practice, this term finds application in the Wills and Probate Law. There it usually refers to a clause in a will, which proclaims what should happen with any left asset; called “residual property” once the inheritance pot has been shared as per the other clauses in the will. The testator details what should happen with these left residual assets. I.e. he/she performs testamentary residual gift (known somewhere as “residual legacy”). The foundation of the term is the word “residue”, which refers to something left over, once something has been taken away.

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