12:04
@aziza: they are very particular lol maybe send it with an LOCI
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Simple English definitions for legal terms
testamentary disposition
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A quick definition of testamentary disposition:
Testamentary disposition is when someone decides what will happen to their property after they die. They can give it away as a gift, sell it, or write it in their will. However, the property doesn't actually change hands until after the person has passed away. The person still has control over their property while they are alive. There are rules that must be followed when making a testamentary disposition, which are set by the law.
A more thorough explanation:
Testamentary disposition refers to the transfer of property by a person (testator) through a will, gift, or deed. However, the transfer only takes effect after the testator's death, and they retain full control of the property during their lifetime. The instruments used to make a testamentary disposition must meet the requirements of the probate statute.
Example 1: John writes a will leaving his house to his daughter. The transfer of the property will only take effect after John's death, and he retains full control of the house during his lifetime.
Example 2: Mary gifts her antique collection to her granddaughter through a deed. The transfer of the collection will only take effect after Mary's death, and she retains full control of the collection during her lifetime.
These examples illustrate how a testamentary disposition works. The testator transfers their property through a will, gift, or deed, but the transfer only takes effect after their death. The testator retains full control of the property during their lifetime, and the instruments used to make the transfer must meet the requirements of the probate statute.