Lapse, Ademption, Exoneration of Liens

Question 1

Lapse

Class Gift

Answer 1

It will make a gift to a class, only the class members who survive the testator takes a share of the gift, unless the will provides otherwise, or anti-lapse statue requirement is met.

Question 2

Ademption

Specific Bequeath

Answer 2

Generally, under the docrtine of ademption, Specific Bequeath property not in the testators estate at the time of his death is adeemed and the beneficiary take nothing.

** Ademption only applies to specific devises

Example: My stock 50 Shares.

Question 3

Nevada Anti-Lapse Statute

Answer 3

The NV Statute applies when the predeceasing beneficiary is a child or other relative of testator who leaves issues who survive T.

Question 4

Will

Lien on Property

Answer 4

A Specific Devisee of encumbrance property is not entitled to have the encumbrance paid out of the residuary estate unless the will shows such intent.