How is a holographic will defined?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

A holographic will is defined as a will that is written entirely by the testator with his or her own hand. This type of will carries the signature of the person making it, which is significant because it demonstrates the testator's intent to create a will. Holographic wills are often recognized in jurisdictions that allow testamentary documents to be handwritten, as long as the essential elements of a will are present, such as the testator's intent to dispose of property upon death.

The other options describe different concepts. An electronically signed will refers to a document that is signed using electronic means, which does not fall under the definition of a holographic will. A will that requires witnesses typically involves formalities that are not characteristic of a holographic will since witnesses are not necessary for a holographic document. Lastly, a verbal agreement regarding property does not constitute a will, as it lacks the written and formalized required elements to be legally recognized in that capacity.

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