Definitions for ademption
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In the law of wills, the determination of what happens when property left under a will is no longer in the testator's estate when the testator dies.
Origin: From ademptio, from ademptus, perfect passive participle of adimo, from ad + emo.
the revocation or taking away of a grant donation, legacy, or the like
Origin: [L. ademptio, fr. adimere, ademptum, to take away; ad + emere to buy, orig. to take.]
Ademption is a term used in the law of wills to determine what happens when property bequeathed under a will is no longer in the testator's estate at the time of the testator's death. For a devise of a specific item of property, such property is considered adeemed, and the gift fails. For example, if a will bequeathed the testator's car to a specific beneficiary, but the testator owned no car at the time of his or her death, the gift would be adeemed and the aforementioned beneficiary would receive no gift at all. General bequests or general gifts - gifts of cash amounts - are never adeemed. If the cash in the testator's estate is not sufficient to satisfy the gift, then other assets in the residuary estate will need to be sold to raise the necessary cash. Some property lies in a "gray" area, in which the testator's specific intent must be determined. For example, where the testator bequeathes "500 shares of stock" in a company, this may be read as a general bequest, or it may be read as a specific bequest, particularly if the testator used a possessive. Such a gift is deemed to be a demonstrative gift. Such demonstrative gifts are deemed to be a hybrid of both specific and general gifts. If one were to bequeath "500 shares of stock," most states would deem that to be a demonstrative gift. The resultant gift to the heir receiving "500 shares," would be the date of death value of 500 shares of that particular stock.
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