If Sec 2C of Wills Act apply, the legacy will be substituted ex lege and the legacy will not fails. LEGATEE REPUDIATES THE LEGACY: If legatee repudiates and substitute not mentioned, and if Sec 2C does not apply, the legacy will fall into the residue of the estate to be shared by residuary heirs. LEGATEE IS INCAPABLE OF INHERITING: Ex: because he murdered test, end neither substitution nor accrual is poosible, the legacy will fall into residue of estate. BEQUEATHED OBJECT IS DESTROYED: Object is destroyed and there is nothing which can be inherited, it is assumed that the test revoked the bequest. TEST’S ESTAE IS INSOLVENT: There can be no transfer of legacies to the legatees, because all the assets of the estate must be used to repay the creditors of the estate. TIME CLAUSES: Absolute bequests may be made with a time clause or term. Such time clause may be suspensive or terminative. Time Clause If a bequest is subject to a time clause, it is subject to an event that will certainly happen in the future, although it may be certain or uncertain when it will arrive. Suspensive Time A bequest subject to a suspensive time clause is a bequest Clause from which the beneficiary will receive the benefit only at a certain future time. A bequest where the beneficiary will have to wait until a certain time to receive the benefit. Resolutive A bequest subject to a resolutive time clause is one where (terminative) time the beneficiary’s rights are terminated when a certain time clause arrives. A beneficiary’s already established rights terminate when a certain time arrives. CONDITIONAL BEQUESTS: Condit Beq depends on a future event which is uncertain in the sense that it may / may not occur. Condit must be clear and possible, legal and not contra bonos mores. If condition is one of above, it is void and pro non scripto: condition falls away and bequest becomes unconditional. 2 Conditions: Resolutive and Suspensive.
If Sec 2C of Wills Act apply, the legacy will be substituted ex lege and the legacy will not fails. LEGATEE REPUDIATES THE LEGACY: If legatee repudiates and substitute not mentioned, and if Sec 2C does not apply, the legacy will fall into the residue of the estate to be shared by residuary heirs. LEGATEE IS INCAPABLE OF INHERITING: Ex: because he murdered test, end neither substitution nor accrual is poosible, the legacy will fall into residue of estate. BEQUEATHED OBJECT IS DESTROYED: Object is destroyed and there is nothing which can be inherited, it is assumed that the test revoked the bequest. TEST’S ESTAE IS INSOLVENT: There can be no transfer of legacies to the legatees, because all the assets of the estate must be used to repay the creditors of the estate. TIME CLAUSES: Absolute bequests may be made with a time clause or term. Such time clause may be suspensive or terminative. Time Clause If a bequest is subject to a time clause, it is subject to an event that will certainly happen in the future, although it may be certain or uncertain when it will arrive. Suspensive Time Clause A bequest subject to a suspensive time clause is a bequest from which the beneficiary will receive the benefit only at a certain future time. A bequest where the beneficiary will have to wait until a certain time to receive the benefit. Resolutive (terminative) time clause A bequest subject to a resolutive time clause is one where the beneficiary’s rights are terminated when a certain time arrives. A beneficiary’s already established rights terminate when a certain time arrives. CONDITIONAL BEQUESTS: Condit Beq depends on a future event which is uncertain in the sense that it may / may not occur. Condit must be clear and possible, legal and not contra bonos mores. If condition is one of above, it is void and pro non scripto: condition falls away and bequest becomes unconditional. 2 Conditions: Resolutive and Suspensive.
PVL2602-summaries.docx