Ademption
The failure of a specific bequest because the identified property is no longer in the estate at the testator's death, often due to sale or destruction.
Encyclopedia entry: Ademption
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ademption
Ademption refers to the destruction or extinction of a testamentary gift because the bequeathed assets no longer belong to the testator at the time of their death. This occurs when the property that was the subject of a specific bequest is sold, destroyed, given away, or no longer exists at the time of the testator's death. This is also termed ademption by extinction .
Ademption should not be confused with ademption by satisfaction , which occurs when the testator has given property to a beneficiary in lieu of a testamentary gift while they are alive.
To avoid confusion about what may or may not be adeemed , the phrase "if owned by me at my death" is sometimes included in the terms of a bequest of property in a will .
[Last reviewed in December of 2021 by the Wex Definitions Team
]
Keywords
Wex
inheritances & estates
Encyclopedia content from Cornell LII Wex (CC-BY-NC-SA 2.5).
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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.