What is the Residuary clause will in Singapore?
Residual property includes all property of a deceased individual not specifically given to a beneficiary through a will. Whether it be money or other items, the residual property has no owner unless laid out in the will. This property is then dealt with by the Residuary clause in the will . The residual property may result due to: An intended beneficiary under the will passes away prior to the effective transfer of property to him/her. The testator acquires new property after executing the will; Property that is specifically bequeathed under the will (such as house) is sold and converted into monies prior to the testator’s death; The distribution of property under the will is contrary to law or invalid for some reason; Other reasons causing the failure of transfer of property under the will. The residuary clause will, Singapore Wills in Singapore often consist of residuary clauses. The Singapore Courts have generally adopted a co