Order

Introduction General or Residuary

Solvent Estate - where Personalty*** not specifically
assets exceed liabilities beqeauthed or exonerated
and there is a surplus which can be Order of Priority or exempted
distributed among beneficiaries [any item not given
In the absence of
away or reserved specifically will
There is an order contary intention
be used first, Not realty]
of priority in which assets in the Will - there
[General personalty -what left
must be used to pay funeral and is an order of
after specific and general
testamentary expenses, and priority for payment of
pecuniary legacies have been
administration expenses, debts debts and liabilities
taken out - have to take out
and liabilities [Contrary intention will
money gifts first]
override the order]
Real Estate Appropriated to
Because there is no
or devised in trust for payment
statutory provision in
of debts
Solvent Estate Jamaica - we use the
[any real estate which is
pre-1926 rules
given to pay debts]
Note -
Real Estate descended
General Legacies are
whether acquired before
used to pay debts first
or after the making of
befor specific legacies
the will
Marshalling Note - personalty are
Real estates devised,
Marshalling allows disappointed used first before realty
charged with the payment
beneficiary (whose intended Unless realty is charged with
of debts
gift has been used to pay payment OR personalty is When property is devised
creditor) to go after property exonerated from payment with a mortgage charge or
by T balance on it, the beneficiary
which ought to have been used or mortgagee is responsible
to pay the debts before resorting If surplus left from a fund to realize the assets/security,
to his property after paying creditors, it will pay off the charge or
be deivised among balance owing on the property
and the balance left is used
beneficiaries entitled in appplying to pay off
to that fund debts and liabilities
Section 13
Intestate Estate and
Property Charges Act

General pecuinary legacies

pro rata
Pecuniary Legacies are paid
out of residuary personalty
unless contrary intention
in the will
[e.g. gift to A for 50,000 will
be paid out of residuary
personalty ]
Specific and residuary
devises and specific
legacies pro rata
Real and personal property
which T had power to appoint
and which he had appointed by
will