Legacy Asset

Legacy Asset
An asset that has been on the company's books for a long period of time. This type of asset has generally decreased in value to the point of a loss for the company. The term comes from the literal meaning of outdate or obsolete.

While these assets are generally considered a hinderance, it may be a good time to take another look at them in times of economic downturn. It is possible that they may have new value in a different time or economy. Conversely, it may also be a good time to sell the assets at a reduced price, simply to earn enough money to remain afloat during a recession.


Investment dictionary. . 2012.

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  • general legacy — ➔ legacy * * * general legacy UK US noun [C or U] LAW ► an amount of money or other asset that is given to someone out of the general assets of a person who has died, rather than a particular named object or asset: »General legacies have priority …   Financial and business terms

  • specific legacy — see legacy Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. specific legacy …   Law dictionary

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