§ 64.1-62.3. How certain legacies and devises to be construed; nonademptionin certain cases.
A. Unless a contrary intention appears in the will:
1. A bequest of specific securities, whether or not expressed in number ofshares, shall include as much of the bequeathed securities as is part of theestate at time of the testator's death, any additional or other securities ofthe same entity owned by the testator by reason of action initiated by theentity, excluding any securities acquired by the exercise of purchaseoptions, and any securities of another entity acquired with respect to thespecific securities mentioned in the bequest as a result of a merger,consolidation, reorganization or other similar action initiated by the entity;
2. A bequest or devise of specific property shall include the amount of anycondemnation award for the taking of the property which remains unpaid atdeath and any proceeds unpaid at death on fire and casualty insurance on theproperty; and
3. A bequest or devise of specific property shall, in addition to suchproperty as is part of the estate of the testator, be deemed to be a legacyof a pecuniary amount if such specific property shall, during the life of thetestator and while he is under a disability, be sold by a conservator,guardian, or committee for the testator, or if proceeds of fire or casualtyinsurance as to such property are paid to the fiduciary. For purposes of thissubdivision, the pecuniary amount shall be the net sale price or insuranceproceeds, reduced by the sums received under subdivision 2. This subdivisionshall not apply if, after the sale or casualty, it is adjudicated that thedisability of the testator has ceased and the testator survives theadjudication by one year.
B. Unless a contrary intention appears in a testator's will or durable powerof attorney, a bequest or devise of specific property shall, in addition tosuch property as is part of the estate of the testator, be deemed to be alegacy of a pecuniary amount if such specific property shall, during the lifeof the testator and while he is incapacitated, be sold by an agent actingwithin the authority of a durable power of attorney for the testator, or ifproceeds of fire or casualty insurance as to such property are paid to theagent. For purposes of this subdivision, (i) the pecuniary amount shall bethe net sale price or insurance proceeds, reduced by the sums received undersubdivision 2, (ii) no adjudication of testator's incapacity before death isnecessary, (iii) the acts of an agent within the authority of a durable powerof attorney are rebuttably presumed to be for an incapacitated testator, and(iv) an "incapacitated" person is one who is impaired by reason of mentalillness, mental deficiency, physical illness or disability, chronic use ofdrugs, chronic intoxication, or other cause to the extent of lackingsufficient understanding or capacity to make or communicate responsibledecisions. This subdivision shall not apply (i) if the agent's sale of thespecific property or receipt of the insurance proceeds is thereafter ratifiedby the testator or (ii) to a power of attorney limited to one or morespecific purposes.
§ 64.1-62.3. How certain legacies and devises to be construed; nonademptionin certain cases.
A. Unless a contrary intention appears in the will:
1. A bequest of specific securities, whether or not expressed in number ofshares, shall include as much of the bequeathed securities as is part of theestate at time of the testator's death, any additional or other securities ofthe same entity owned by the testator by reason of action initiated by theentity, excluding any securities acquired by the exercise of purchaseoptions, and any securities of another entity acquired with respect to thespecific securities mentioned in the bequest as a result of a merger,consolidation, reorganization or other similar action initiated by the entity;
2. A bequest or devise of specific property shall include the amount of anycondemnation award for the taking of the property which remains unpaid atdeath and any proceeds unpaid at death on fire and casualty insurance on theproperty; and
3. A bequest or devise of specific property shall, in addition to suchproperty as is part of the estate of the testator, be deemed to be a legacyof a pecuniary amount if such specific property shall, during the life of thetestator and while he is under a disability, be sold by a conservator,guardian, or committee for the testator, or if proceeds of fire or casualtyinsurance as to such property are paid to the fiduciary. For purposes of thissubdivision, the pecuniary amount shall be the net sale price or insuranceproceeds, reduced by the sums received under subdivision 2. This subdivisionshall not apply if, after the sale or casualty, it is adjudicated that thedisability of the testator has ceased and the testator survives theadjudication by one year.
B. Unless a contrary intention appears in a testator's will or durable powerof attorney, a bequest or devise of specific property shall, in addition tosuch property as is part of the estate of the testator, be deemed to be alegacy of a pecuniary amount if such specific property shall, during the lifeof the testator and while he is incapacitated, be sold by an agent actingwithin the authority of a durable power of attorney for the testator, or ifproceeds of fire or casualty insurance as to such property are paid to theagent. For purposes of this subdivision, (i) the pecuniary amount shall bethe net sale price or insurance proceeds, reduced by the sums received undersubdivision 2, (ii) no adjudication of testator's incapacity before death isnecessary, (iii) the acts of an agent within the authority of a durable powerof attorney are rebuttably presumed to be for an incapacitated testator, and(iv) an "incapacitated" person is one who is impaired by reason of mentalillness, mental deficiency, physical illness or disability, chronic use ofdrugs, chronic intoxication, or other cause to the extent of lackingsufficient understanding or capacity to make or communicate responsibledecisions. This subdivision shall not apply (i) if the agent's sale of thespecific property or receipt of the insurance proceeds is thereafter ratifiedby the testator or (ii) to a power of attorney limited to one or morespecific purposes.
§ 64.1-62.3. How certain legacies and devises to be construed; nonademptionin certain cases.
A. Unless a contrary intention appears in the will:
1. A bequest of specific securities, whether or not expressed in number ofshares, shall include as much of the bequeathed securities as is part of theestate at time of the testator's death, any additional or other securities ofthe same entity owned by the testator by reason of action initiated by theentity, excluding any securities acquired by the exercise of purchaseoptions, and any securities of another entity acquired with respect to thespecific securities mentioned in the bequest as a result of a merger,consolidation, reorganization or other similar action initiated by the entity;
2. A bequest or devise of specific property shall include the amount of anycondemnation award for the taking of the property which remains unpaid atdeath and any proceeds unpaid at death on fire and casualty insurance on theproperty; and
3. A bequest or devise of specific property shall, in addition to suchproperty as is part of the estate of the testator, be deemed to be a legacyof a pecuniary amount if such specific property shall, during the life of thetestator and while he is under a disability, be sold by a conservator,guardian, or committee for the testator, or if proceeds of fire or casualtyinsurance as to such property are paid to the fiduciary. For purposes of thissubdivision, the pecuniary amount shall be the net sale price or insuranceproceeds, reduced by the sums received under subdivision 2. This subdivisionshall not apply if, after the sale or casualty, it is adjudicated that thedisability of the testator has ceased and the testator survives theadjudication by one year.
B. Unless a contrary intention appears in a testator's will or durable powerof attorney, a bequest or devise of specific property shall, in addition tosuch property as is part of the estate of the testator, be deemed to be alegacy of a pecuniary amount if such specific property shall, during the lifeof the testator and while he is incapacitated, be sold by an agent actingwithin the authority of a durable power of attorney for the testator, or ifproceeds of fire or casualty insurance as to such property are paid to theagent. For purposes of this subdivision, (i) the pecuniary amount shall bethe net sale price or insurance proceeds, reduced by the sums received undersubdivision 2, (ii) no adjudication of testator's incapacity before death isnecessary, (iii) the acts of an agent within the authority of a durable powerof attorney are rebuttably presumed to be for an incapacitated testator, and(iv) an "incapacitated" person is one who is impaired by reason of mentalillness, mental deficiency, physical illness or disability, chronic use ofdrugs, chronic intoxication, or other cause to the extent of lackingsufficient understanding or capacity to make or communicate responsibledecisions. This subdivision shall not apply (i) if the agent's sale of thespecific property or receipt of the insurance proceeds is thereafter ratifiedby the testator or (ii) to a power of attorney limited to one or morespecific purposes.
