Testamentary Capacity


Definition of "Testamentary capacity"

Thomas Bruno- <br>Gulf Shores Realty
  Gulf Shores Realty

Having the intellect to comprehend the terms and conditions of a will and their impact. A testator must understand his or her estate and its eventual disposition and effects in order to validate the will.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Experience Modification

Adjustment of premiums resulting from the use of experience ratings. Experience rating plans take th ...

Commercial Broker

Real estate broker specializing in the listing and selling of commercial property. This property can ...

Valid Contract

One that is legally binding because it is in conformity with legal requirements and conditions. ...

Continuing Commitment

Recurring obligation or assurance given. ...

Transportation Insurance Rating Bureau (tirb)

One of two bureaus that writes forms and files standard rates for inland marine insurance. The other ...

Stoop

Stairs or porch by the front door of the house. ...

Related Real Estate FAQ

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Mortgage Insurance Premium (MIP)?

A mortgage insurance premium is a policy that insures the lender against loss if the homeowner defau ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income ...

What Is A Lien?

A lien is a claim against a property. ...

What Is A Default?

A default is when a person fails to make payments on a loan. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Tax Breaks for the First Time Home Buyer How to become a real estate agent How To Choose A Realtor 7 Things to Consider Before Moving to a New City Is it better to buy or sell a home first

FAQ

What do I need to know about Indemnity Insurance? What is a loan-to-value (LTD) ratio? What is Freddie Mac? What are jumbo mortgages? What are the Benefits of Liability Insurance?