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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 3, Page 224   View pdf image (33K)
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224 WILLIAMS' CASE.
cause an estate for life was then worth nine or ten years purchase,
whereas formerly it was worth but seven; (m) and in the case de-
termined in 1750, it was said, that the computation of the tenant
for life bearing one-third, was wrong as being too low; (n) that is,
as not laying enough on the tenant for life, (o)
In the year 1717, an executor having paid debts to a large
amount, and doubts having arisen about the application of the dif-
ferent kinds of assets, there being a deficiency of personalty to pay
all the debts, he filed a bill to obtain the direction of the court.
Upon which it appeared, that the testator, being seised in fee of
some land, and possessed of a lease for years, in other lands, and
indebted by specially and simple contract, devised an annuity of
forty pounds a year, out of the lease for years to one grand-
son, and the lease itself to another grandson, and likewise devised
all his lands in fee to A. and his heirs. None of the devisees were
his heirs at law. It was held, that, to prevent the disappointment
of the testator's intent, the devisee of the fee simple estate, and the
devisees of the lease, and of the annuity, should each contribute to
the debts by specialty. And, for that purpose, it was, among
other things, directed, that the master should ascertain what, at
the testator's death, was the value of the lands devised in fee, and
of the lease, and also of the annuity; and, to lay the said defi-
ciency rateably upon the same according to their respective values;
and to state what part necessarily must, and what part most con-
veniently might be sold for that purpose, (p) In 1726, on a bill
by a devisee in remainder of an estate pour autre vie, it was held
to be personal estate which could not be devised away from credi-
tors; nevertheless, being a specific devise, that all the rest of the
testator's personal estate, not specifically devised, should be first
applied to pay the debts; and, if there were any other specific de-
vise it should come in average with this, and pay its proportion;
but if that would not serve, that then all should be sold to pay the
testator's debt, (q) And in 1749, it was held, that a devisee of an
annuity for life charged on the personal estate, where there was a
deficiency of assets, should abate in proportion with the other
legatees, (r)
(m) Flud 0. Flud, 2 Freem. 210.-—(n) Verney v. Verney, 1 Ves. 428; White v.
White, 4 Ves. 84.—(o) White v. White, 9 Ves. 557.—(p) Long v. Short, 1 P. Will.
403; Franks e. Cooper, 4 Ves. 768.—(q) Devon v. Atkins, 2 P. Will. 380; Lewin v.
.Lewin, 2 Ves. 415; Rogers v. Millicent, Dick. 570,—(r) Hume v. Edwards, 3
Atk. 693.


 
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Bland's Reports, Chancery Court 1809-1832
Volume 201, Volume 3, Page 224   View pdf image (33K)
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