Illinois Compiled Statutes 755 ILCS 5/4-8 – Contract for sale.) If after making his will the testator makes a …
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Terms Used In Illinois Compiled Statutes 755 ILCS 5/4-8
- Bequest: Property gifted by will.
- Contract: A legal written agreement that becomes binding when signed.
- Legatee: A beneficiary of a decedent
- Personal property: All property that is not real property.
- Testator: A male person who leaves a will at death.
Contract for sale.) If after making his will the testator makes a contract for the sale or transfer of real or personal property specifically bequeathed therein and the whole or any part of the contract remains executory at his death, the disposition of the property by the contract does not revoke the bequest but the property passes to the legatee subject to the contract.