DISPOSITION: (noun) / a transfer of property
A disposition is a transfer of property by a person during life or by will (New York Estates, Powers, and Trusts Law § 1-2.4).
Plain English translation: The EPTL puts it pretty well, but another way to say it is a transfer of ownership of property. The transfer can occur during one’s lifetime or through a will or trust where the transfer occurs upon death (also known as a testamentary disposition).
“The will contained three dispositions. The house was given to the son. The bank account was given to the granddaughter. And the rest was given to the husband.”
“The trust contained a disposition to Anthony of $100,000.00.”
Compare: Demonstrative Disposition; Specific Disposition; General Disposition
