lapse

Definition:

in relation to a gift expressed in a will, revocation of the gift, as a matter of law, because the beneficiary predeceased the testator (or, if the beneficiary was a corporation, the beneficiary was dissolved before the testator died). If the intended beneficiary was a child or remoter descendant of the testator, then there will not be a lapse of the gift if issue of the intended beneficiary were living at the time of the testator’s death. A gift saved by the section goes, per stirpes, to the issue of the intended beneficiary. This provision applies in England and Wales.



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