19 - solvent distribution of estate
DESCRIPTION
Distribution of Estate in JamaicaTRANSCRIPT
-
Solv
ent E
sta
te
Intro
duct
ion
Solv
ent
Esta
te -
where
asse
ts e
xcee
d l
iab
ilities
an
d t
he
re is a
su
rplu
s w
hic
h c
an b
e
dis
trib
ute
d a
mon
g b
en
eficia
ries
Th
ere
is a
n o
rde
rof
priori
ty in w
hic
h a
sse
tsm
ust be
used
to p
ay fu
ne
ral and
test
am
enta
ry ex
pen
ses,
a
nd
adm
inis
tratio
n ex
pense
s, de
bts
an
d l
iabili
ties
Ord
er
of
Pri
ori
tyIn
the a
bse
nce o
fco
nta
ry in
ten
tion
in
th
e W
ill -
th
ere
is
an
ord
er
of
pri
ori
ty f
or
paym
en
t of
de
bts
and
lia
bili
ties
[Con
trary
inte
ntion
will
overr
ide
the
ord
er]
Beca
use th
ere
is n
osta
tuto
ry p
rovis
ion
in
Ja
ma
ica
- w
e u
se
the
pre-
1926
ru
les
No
te -
Gene
ral L
eg
acie
s a
reused
to p
ay d
ebts
first
be
for
spe
cific
leg
acie
s
Note
- p
ers
on
alty a
re
used
fir
st
be
fore
rea
lty
Unle
ss r
ea
lty is c
harg
ed
with
pa
ym
en
t O
R p
ers
on
alty is
exon
era
ted
fro
m p
aym
ent
by T
If s
urp
lus le
ft fro
m a
fun
daft
er
payin
g c
red
ito
rs,
it w
illbe
de
ivis
ed a
mo
ng
be
ne
ficia
ries
entit
led
to tha
t fu
nd
Ord
er
Gene
ral
or
Re
sid
uary
P
ers
ona
lty**
* n
ot
spe
cific
ally
be
qe
au
the
d o
r e
xon
era
ted
or
exe
mp
ted
[any ite
m n
ot giv
en
aw
ay o
r re
se
rve
d s
pecific
ally
will
be
use
d f
irst,
Not
realty]
[Gen
era
l pe
rso
na
lty -
wh
at le
ftaft
er
sp
ecific
an
d g
ene
ral
pe
cu
nia
ry leg
acie
s h
ave
bee
nta
ken
out
- ha
ve
to
take
out
mone
y g
ifts
fir
st]
Real E
sta
te A
ppro
pria
ted t
oor
devis
ed in
tru
st fo
r p
aym
ent
of d
ebts
[any r
ea
l esta
te w
hic
h is
giv
en
to
pa
y d
ebts
]
Real E
sta
te d
esce
nd
ed
wheth
er
acq
uire
d b
efo
reor
afte
r th
e m
akin
g o
fth
e w
illR
eal
esta
tes d
evis
ed
, ch
arg
ed
with
the
paym
ent
of d
ebts
Wh
en p
rop
ert
y is d
evis
ed
with a
mo
rtga
ge c
harg
e o
rba
lance o
n it, th
e b
eneficia
ryor
mort
gage
e is r
espon
sib
leto
realiz
e th
e a
ssets
/se
curity
,pa
y o
ff t
he c
harg
e o
r ba
lance o
win
g o
n the
pro
pe
rty
an
d t
he
bala
nce
left is u
sed
in
app
ply
ing t
o p
ay o
ffde
bts
an
d lia
bili
ties
Sect
ion
13
Inte
sta
te Es
tate
a
nd
Pro
pe
rty C
harg
es A
ct
Gene
ral p
ecuin
ary
le
ga
cie
spr
o ra
taP
ecun
iary
Le
gacie
s a
re p
aid
ou
t of re
sid
ua
ry p
ers
ona
lty
un
less c
on
trary
inte
ntio
n
in t
he w
ill[e
.g.
gift
to A
for
50,0
00 w
illbe
paid
ou
t of re
sid
uary
pers
onal
ty ]
Specific
and
resid
ua
ryde
vis
es a
nd s
pe
cific
lega
cies
pr
o ra
taR
eal and
pe
rso
na
l pro
pe
rty
whic
h T
had
pow
er
to a
ppo
int
an
d w
hic
h h
e h
ad a
pp
oin
ted
by
will
Ma
rsha
lling
Mars
halli
ng
allo
ws d
isa
ppo
inte
dbe
ne
ficia
ry (
who
se i
nte
nd
ed
gift has b
ee
n u
se
d to
pay
cre
ditor)
to
go a
fte
r p
ropert
yw
hic
h o
ug
ht
to h
ave
been
use
d
to p
ay the
deb
ts b
efo
re r
eso
rtin
gto
his
pro
pe
rty