Kentucky Statutes 394.360 – Conversion or removal of devised property not an ademption unless intended
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(1) The conversion of money or property or the proceeds of property, devised to one (1) of the testator‘s heirs, into other property or thing, with or without the assent of the testator, shall not be an ademption of the legacy or devise unless the testator so intended; but the devisee shall have and receive the value of such devise, unless a contrary intention on the part of the testator appears from the will, or by parol or other evidence.
(2) The removal of property devised shall not operate as an ademption, unless a contrary intention on the part of the testator is manifested in like manner.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2068, 2069.
(2) The removal of property devised shall not operate as an ademption, unless a contrary intention on the part of the testator is manifested in like manner.
Terms Used In Kentucky Statutes 394.360
- Devise: To gift property by will.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Legacy: A gift of property made by will.
- Testator: A male person who leaves a will at death.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. secs. 2068, 2069.