meaning of anti-lapse statute

anti-lapse statute meaning in Business Dictionary

A statute that is enacted generally in most states that enables the heirs of a devisee or legatee which dies prior to the testator to take possession associated with the testamentary present that was originally designed for the devisee or legatee. Without this statute, the gift would fall and go to the additional, or residuary, beneficiary - when there is any - or else it'll to on testator's intestate heirs.