Lapse statute

{
  "id": "MLC-T-LAW-002924",
  "term": "Lapse statute",
  "field": "Law",
  "definition": "A statutory provision that prevents a testamentary gift from failing or lapsing if the beneficiary dies before the testator. These statutes redirect the gift to the deceased beneficiary's descendants or other specified heirs, rather than allowing it to become part of the residuary estate. Most states have lapse statutes, though their specific provisions regarding eligible beneficiaries and relationships vary.",
  "url": "https://mlchart.com/terminology/law/lapse-statute/"
}