According to Law Dictionary Legacy means Something received by Will and Legatee means the person to whom a legacy is given.
Legacies are ordinarily divided into two classes namely specific legacies and general legacies. There is also a third kind of legacy called demonstrated legacy.
Specific legacy is where a testator bequeaths to any person a specific part of his property, which is distinguished from all other parts of his property.
A general legacy has no reference to the actual state of the testator’s property. It is a gift of something which, at the event of the testator leaving sufficient assets, must be raised by his executors out of his general estate.
A demonstrative legacy consist of a pecuniary legacy payable out of a particular fund of the testator.