Lawgist147Retention, in form, of specific bequest to several persons in succession
Where property is specifically bequeathed to two or more persons in succession, it shall be retained in the form in which the testator left it, although it may be of such a nature that its value is continually decreasing.
Illustrations
(i) A, having lease of a house for a term of years, fifteen of which were unexpired at the time of his death, has bequeathed the lease to B for his life, and after B's death to C. B is to enjoy the property as A left it, although, if B lives for fifteen years, C can take nothing under the bequest.
(ii) A, having an annuity during the life of B, bequeaths it to C, for his life, and, after C's death, to D. C is to enjoy the annuity as A left it, although, if B dies before D, D can take nothing under the bequest.
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- 142 Specific legacy defined
- 143 Bequest of certain sum where stocks, etc., in which invested are described
- 144 Bequest of stock where testator had, at date of will, equal or greater amount of stock of same kind
- 145 Bequest of money where not payable until part of testator’s property disposed of in certain way
- 146 When enumerated articles not deemed specifically bequeathed
- 147 Retention, in form, of specific bequest to several persons in succession
- 148 Sale and investment of proceeds of property bequeathed to two or more persons in succession
- 149 Where deficiency of assets to pay legacies, specific legacy not to abate with general legacies
