This story is a legend. What elements make a legend different from a regular story?

A legend is a semi-true story, which has been passed on from person-to-person and includes vital meaning / symbolism for the culture in which it originates from. A legend usually has an element of truth, or is based on historic facts, but with 'mythical qualities'. They usually involve heroic characters and/or fantastic places and often encompass the spiritual beliefs of the culture in which they come from.