ment of said mortgage or other debts, charges or expenses, and from the lien of said mortgage.

Note. As to debts secured by mortgage, common law rule, see §§ 794-796; modern rule, see § 797. Widow's right of dower, see § 806. As to form of devise of mortgaged property, see, post, form No. 15.

No. 8.

GENERAL LEGACIES.

D

I bequeath unto C the sum of one hundred dollars; (or) all my personal estate not herein before specifically bequeathed; (or) the sum of one hundred dollars or the value thereof in property; (or) the sum of one thousand dollars in cash, stocks, bonds or notes of which I may die possessed.

Note. See §§ 647, 648. The word "bequeath," strictly speaking, refers to a disposition of personalty, the word "devise" to a disposition of realty, see §§ 31, 670. The character of a legacy is important since, should there be insufficient assets of the estate to pay all debts and legacies, abatement of legacies must result, the character of the legacy determining the order of reduction, see §§ 690 et seq. The testator, however, may designate in his will upon whom the loss shall fall, see § 691.

For forms of directions regarding abatement of legacies, see, post, form No. 18 (a), (b) and (c).

No. 9.

SPECIFIC LEGACIES AND DEVISES.

(a) General objects.

(b) Money.

(c) Stocks and bonds.

(d) Insurance policies.
(e) Proceeds from sales.
(f) Real estate.

General Note.-Should the assets of the estate be insufficient to pay all debts and legacies, specific legacies are the last to suffer reduction, other legacies being first resorted to, see §§ 690 et seq. A legacy is adeemed, however, where the specific article bequeathed does not exist

at the time of the testator's death. Thus a specific legacy may fail where a general legacy would not, see §§ 708 et seq. A general legacy, however, may be satisfied. See §§ 709-711, 723. Ademption is not the proper term to use where realty specifically devised has been disposed of, see § 706, in such a case the devise is revoked, see §§ 540-545.

(a) General objects. I bequeath unto CD—— my brown riding horse Selim; (or) my grand piano now in the living-room of my home; (or) all my oil paintings now hanging on the walls of my home.

Note. See §§ 649-651.

(b) Money. I bequeath unto CD

now have on deposit with the

in the vaults of the

the money I

money I have deposited in my safe deposit box No.

Company; (or) the money in the

bag I have left with JB for safe keeping.

Note.-See § 652.

(c) Stocks and bonds. I bequeath unto C ten shares of the

D— the

Bank stock now standing on the books of said company in my name, and evidenced by certificate No. ; also the twenty bonds of the Company which I now own, said bonds being of the par value of one hundred dollars each and being numbered 520 to 540 inclusive.

Note. See § 653.

(d) Insurance policies. I bequeath unto C D— the proceeds from that certain policy of insurance issued on my life by the Company, policy No.

Note. See § 654.

dated

(e) Proceeds from sales. I direct that my executor hereinafter named sell and convert into money the twenty shares of stock of the Company standing in my name,

D to whom I hereby bequeath such proceeds.

Note. To be a specific legacy, the property to be sold must be specifically described and all the proceeds bequeathed, see § 655.

that certain

county of

(f) Real estate. I devise unto CDlot or parcel of land situated in the city of (specifically describing the same).

-, state of

Note.-See § 656.

No. 10.

DEMONSTRATIVE LEGACIES.

(a) Money.

(b) Stocks and bonds.

General Note.-A demonstrative legacy is a bequest of a certain sum of money or amount of personalty payable out of a particular fund or designated property, partaking of the nature of a general legacy because the amount given is specified, and partaking of the nature of a specified legacy because the personalty out of which it is to be paid is designated. As to demonstrative legacies generally, see §§ 657-660. As to abatement of demonstrative legacies, see § 696. A demonstrative legacy in effect becomes general if the fund out of which it is to be paid should fail, see §§ 659, 660.

(a) Money. I bequeath unto CD the sum of one thousand dollars out of the moneys I have on deposit in the Bank; (or) the sum of one hundred dollars to be paid out of the moneys collected under my life insurance policy; (or) I direct that my executor hereinafter named collect the moneys due me on the note for one thousand dollars executed by JB favor, and out of such moneys pay to C-—— D————— the sum of four hundred dollars to whom I hereby bequeath such sum.

Note. See §§ 657-660.

in my

(b) Stocks and bonds. I bequeath unto my beloved wife, M— B, bonds of the par value of ten thousand dol

lars of the Third Liberty Loan of the United States, to be given her out of the bonds of said loan which I have this day subscribed for and purchased; also twenty shares of stock of the Company, to be transferred to her

out of my stockholdings in said company.

Note. See §§ 657-660.

No. 11.

ANNUITIES.

(a) General annuity.

(b) Annuity charged upon specific personalty.
(c) Annuity charged upon specific realty.

(d) Directing executor to purchase annuity.
(e) Legacy for purchase of annuity.

General Note.-An annuity is distinguished from a gift of income generally in that it is for a specific amount, and if the income of the property charged with its payment is insufficient for such purpose, the corpus of the property may be drawn upon, see §§ 661, 662. An annuity may be charged upon the corpus of a fund or may be charged only upon the income from such fund, see § 665.

(a) General annuity. I bequeath unto CD, during the term of his natural life, an annuity of three hundred dollars, payable annually and commencing one year after the date of my death, my personal estate to be charged with the payment of the same.

Note. The will may direct the payments to be made quarterly or semi-annually, if desired.

(b) Annuity charged upon specific personalty. I bequeath unto R D my twenty bonds of the Company, said bonds being for one thousand dollars each and being numbered 521 to 540 inclusive, subject, however, to the payment to CD, during the term of his natural life, of an annuity of three hundred dollars, to be paid in quarterly instalments of seventy-five dollars each, commencing six months after the date of my

death,

said payments being hereby charged upon R▬▬▬▬ D——— and the bonds herein bequeathed him.

(c) Annuity charged upon specific realty. I devise unto RD that certain tract of land situated in the county of, state of, known as the farm, and more particularly described as follows: (insert description). Subject, however, to the payment to C▬▬▬▬▬▬▬▬ D——————, during the term of his natural life, of the sum of three hundred dollars per year, payable in semi-annual instalments of one hundred fifty dollars each commencing one year after the date of my death. The property above described and devised to R D—, whether in the hands or of his heirs or assigns, is hereby charged with the payment of the aforesaid annuity.

of said RD

Note. As to whether the charge is upon the property devised or upon the devisee, see §§ 800, 801. As to charges following the land, see § 803.

(d) Directing executor to purchase annuity. I bequeath unto CD an annuity for three hundred dollars, for the term of his natural life, and direct my executor hereinafter named to purchase, from the proceeds of my estate, from such trust company as he may deem most advisable, such an annuity in favor of CD. Such annuity shall be purchased within one year from the date of my death and payments thereunder shall commence one year after my demise.

(e) Legacy for purchase of annuity. I hereby give to my executor hereinafter named, the sum of ten thousand dollars with which I direct that he shall, at the expiration of one year from the date of my death, purchase from the Trust Company of New York, or from such other trust company as he may deem advisable, an annuity in favor of C D for the term of his natural life. Said ten thousand dollars shall be expended to purchase the largest annual income that can be secured to C