gift over

Definition of "gift over"
  1. A disposition of an asset, particularly through a will, that occurs upon the end or unsuccessful realization of a prior claim (such as a life estate) to the same asset
How to use "gift over" in a sentence
  1. The life estate ended, leading to a gift over of the property to the next beneficiary.
  2. The will stated that in case the first beneficiary was unable to claim the estate, a gift over would ensure it went to the next on the list.
  3. Upon the termination of the life estate, the gift over mechanism transferred the property to the intended party.

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