§ 4-405

Maryland § 4-405

• Jurisdiction: Maryland
• Article get: Estates and Trusts
• Title: 4

Text

Unless a contrary intent is expressly indicated in the will, a specific legacy includes additional or substituted securities if:

(1) Securities are the subject of a specific legacy;

(2) After the execution of the will other securities of the same or another entity are distributed to the testator because of the testator’s ownership of the original securities, whether as a result of a partial liquidation, stock dividend, stock split, merger, consolidation, reorganization, recapitalization, redemption, exchange, or other transaction; and

(3) The securities are part of the estate of the testator at the time of the testator’s death.