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A '''lapsed gift''' is a gift made in a [[will (legal document)|will]] to a person who has died prior to the will-makers death. [[Category:Legal Terms]]
A '''lapsed gift''' is a gift made in a [[will (legal document)|will]] to a person who has died prior to the will-makers death.
Under the common law, such a gift would be included in the "residual estate" (that part of the estate not bequeathed to a specific person or entity). But if the person was to inherit part of the residual estate, then the rules of intestate succession apply ("no residue of a residue").
However, modern law has provided for some exceptions:
*Under the Uniform Probate Code (where adopted), if two or more people are bequeathed the residual estate, the share for the person deceased goes to the other(s) proportionally.
*If the [[Uniform Simultaneous Death Act]] applies, then the 120 hour rule goes into effect.
*Some jurisdictions have "anti-lapse" statutes, which allow for such bequests to go to the heirs of the original person; however, the testator can specify that the anti-lapse rule does not apply.
[[Category:Legal Terms]]