The term “legacy” refers to a gift of personal property made by a will.
“A legacy is a disposition of personal property by will, and, when this testatrix directed her executors to pay the transfer taxes that might be imposed upon any of the legacies which she had made, she meant, and she must be assumed, in law, to have meant, all the preceding dispositions by her, whether of the trust fund or of her individual estate.” In re Johnson’s Estate, 220 Iowa 424 (1935).
“A legacy is a testamentary disposition of personal property. The direction that in the event of the death of any of the beneficiaries, his or her share is to be paid to Henry P. Aliotti implies a direction to convert . . . It must be presumed that the testator knew the legal effect of his language.” Hill v. Van Sant, 133 N.J. Eq. 133 (1943).
“In the law of wills, ‘devise’ is properly used of realty, ‘bequeath’ is used of personalty, and ‘legacy’ as a gift of money or other personal property. A ‘residuary legacy’ is a ‘bequest’ by will, of all the testator’s personal estate not otherwise effectually disposed of by that document. A ‘portion,’ as here used, is the share falling to a child from a parent’s estate or from the estate of any person hearing a similar relation.” Stubbs v. Abel, 114 Or. 610 (1925).
“The term (legacy) is more commonly applied to money or other personal property, * * than to real estate; but ‘devise’ standing, already, as we have shown, in technical contrast with ‘bequest’ to mark a distinction, this word ‘legacy’ acquires readily a popular sense, which regards rather the value of the gift than the elements, real or personal, of which it may happen to be composed.” 1 Schouler on Wills, Executors and Administrators (5 ed.), § 5.
“A legacy is a gift of personal property by will, but the word may include realty.” 40 Cyc. 994.
“Technically, a ‘legacy’ means a gift of personal property by will, but it is well known that in common practice it is frequently used in referring to a gift of real estate and the word ‘devise’ is often used in referring to a gift of personal property. In construing wills, courts will give to either term the meaning intended by the testator, without regard to its strict technical meaning. 18 Am. & Eng. Ency. of Law, 709.”
“The term (legacy) is more commonly applied to money or personal property, although sometimes used with reference to a charge upon real estate: 2 Williams, Executors, 947; 5 Term R. 716; 1 Burrows, 268; 7 Ves. 391, 522.” Cyclopedic Law Dictionary, p. 538.