UK Accounting Glossary
Ademption is the situation, where a property bequeathed to a person at the time of writing of a will, cannot be transferred to him or her upon the death of the will-maker (testator) because it is no longer belongs to the testator’s estate. Ademption may be a result of the destruction, loss, or sale of the bequest in the intervening period.
legal In the law of wills, Ademption is the determination of what happens when property left under a will is no longer in the testator’s estate when the testator dies.
Ademption, or ademption by extinction, is a common law doctrine used in the law of wills to determine what happens when property bequeathed under a will is no longer in the testator’s estate at the time of the testator’s death. For a devise of a specific item of property such property is considered “adeemed”, and the gift fails. For example, if a will bequeathed the testator’s car to a specific beneficiary, but the testator owned no car at the time of his or her death, the gift would be “adeemed” and the aforementioned beneficiary would receive no gift at all.
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This glossary post was last updated: 15th February, 2020