§668-12  Estates for life and years, and
contingent estates.  If an estate for life or years is found to exist as to
any part of the property or if any estate in dower or by curtesy exists with
respect thereto, and the person interested has been served, the estate shall
after partition relate only to the share set apart in partition and
corresponding in severalty to the undivided interest theretofore subject
thereto; and likewise as to any estate or interest dependent upon any
contingency or executory provision, or inchoate right of dower.  If the
property is sold, the proceeds of sale of the share or interest theretofore
subject thereto shall be subject to the same estate in lieu of the property
sold.  If the parties interested in any fund subject to any estate for life or
years or any estate in dower or by curtesy do not agree upon a sum in gross to
be paid and accepted as the equivalent thereof, the court shall direct the fund
to be invested and the income thereof paid and the corpus eventually transferred
to the parties entitled thereto, as they shall respectively be or become
entitled.  If any such fund represents the proceeds of sale of any share
theretofore subject to any contingent estate or right therein or to any
executory provision, or inchoate right of dower, the fund involved shall be
held by the court or suitably placed in trust and invested upon the same terms
and conditions as to the vesting or enjoyment thereof as before existed with
respect to the share or interest sold. [L 1923, c 178, §12; RL 1925, §2772; am
L 1929, c 83, §1; RL 1935, §4751; RL 1945, §12461; RL 1955, §337-12; HRS
§668-12; am L 1972, c 90, §11(n)]



 



Case Notes



 



  See 35 H. 262; 35 H. 349.