When Specifically Bequeathed Property Is Sold or Given Away by the Testator

question 49

True/False

When specifically bequeathed property is sold or given away by the testator prior to death, the bequest is considered redeemed.

---

Definitions:

Real Property

Land and anything permanently attached to it, including buildings and other structures.

Cooperative Ownership

A form of property ownership where individuals own shares of a corporation that owns the property, providing members use rights.

Proprietary Lease

A lease agreement in a cooperative (co-op) building in which the resident is given the right to occupy a unit by holding shares in the cooperative rather than owning the unit outright.

Tenancy In Common

A form of joint ownership of property by two or more persons, where each owner has an undivided interest in the property and is entitled to an equal share of profits, but with no right of survivorship.