Hawaii Revised Statutes 533-17 – Standard of values; dower, etc
Terms Used In Hawaii Revised Statutes 533-17
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Dower: A widow
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
Whenever it becomes expedient or necessary to determine the value of any right of dower or any other life estate or interest in any property, in any proceeding for partition or for the admeasurement of dower, or wherein the value of any estate is required to be provided for out of the proceeds of sale of the property subject thereto, the value thereof shall be determined by the rule, method, and the standards of mortality and of value that are set forth in the standard annuity tables of mortality for ascertaining the value of policies of life insurance and annuities, using five per cent a year as the rate of interest in connection therewith.
When the dower in real estate cannot be set apart without great injury to the owners, the court may ascertain the value of the dower in money, and order the same to be paid on such terms as shall be just and reasonable.