What is the definition of a demonstrative legacy?

A demonstrative legacy specifically refers to a gift that is specified in a will to be paid out of a particular fund or asset. This means that it is not just a general bequest but is tied to a particular source. In this case, the correct answer accurately reflects the definition, as it highlights the importance of the designated fund from which the gift is to be made.

In contrast, the other choices define different types of legacies or gifts in wills, such as a bequest of real property under specific conditions (which is not tied to a fund), an equal inheritance among heirs (which speaks to distribution rather than specification), and a charitable donation (which focuses on a specific type of recipient). All these options lack the essential characteristic of being particularly linked to a designated fund, which is the hallmark of a demonstrative legacy.