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Legal Definitions - caduce
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Definition of caduce
Definition: To take by escheat or lapse. For example, "the government caduced the unclaimed mineral royalties."
CADUCITY: The lapse of a testamentary gift. For example, "the testator failed to provide a contingency for the caducity of the legacy."
These terms are legal terms that refer to the process of property or gifts reverting back to the government or original owner due to certain circumstances. In the first example, the government took possession of unclaimed mineral royalties because they were not claimed by their rightful owner. In the second example, a testamentary gift (a gift given in a will) would lapse or become invalid if certain conditions were not met. These terms are important in understanding property and inheritance laws.
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Simple Definition
Term: CADUCE
Definition: Caduce means to take possession of something that has been left unclaimed or has lapsed. For example, if someone doesn't claim their mineral royalties, the government can caduce them. Caducity refers to a situation where a gift left in a will cannot be given because of certain conditions not being met. For instance, if a will says a gift can only be given if the recipient is still alive after a certain date, but they die before that date, the gift will be subject to caducity and cannot be given.
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