general legacy - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “general legacy”

general legacy

noun [C or U]
 
 
LAW
an amount of money or other asset that is given to someone out of the general assets of a person who has died, rather than a particular named object or asset: General legacies have priority even when there are changes in the estate after the death of the testator. →  Compare demonstrative legacy , residuary legacy , specific legacy
(Definition of general legacy from the Cambridge Business English Dictionary © Cambridge University Press)
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