Virginia § 55.1-502 Table of uniform seniority

Virginia Statutes

§ 55.1-502 — Table of uniform seniority

Virginia § 55.1-502

Title 55.1Property and Conveyances

Subtitle IProperty Conveyances

Ch. 5Commutation and Valuation of Certain Estates and Interests

This text of Virginia § 55.1-502 (Table of uniform seniority) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 55.1-502 (2026).

Text

When any two parties, as joint tenants for life, are entitled to the annual interest on a sum of money, or are entitled to the use of any estate or a part thereof, and are willing to accept a gross sum in lieu thereof, or the party liable for such interest, or affected by such claim, has the right to pay a gross sum in lieu thereof, or if the court in any legal proceeding orders a gross sum to be paid in lieu thereof, the sum shall be estimated according to the then value of an annuity of eight percent on the principal sum during the probable joint lives of such persons (which probable joint lives shall be computed from the table in this section for computing uniform seniority) as set forth in Column II in the table in § 55.1-500, showing the present value, on the basis of eight percent in

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When any two parties, as joint tenants for life, are entitled to the annual interest on a sum of money, or are entitled to the use of any estate or a part thereof, and are willing to accept a gross sum in lieu thereof, or the party liable for such interest, or affected by such claim, has the right to pay a gross sum in lieu thereof, or if the court in any legal proceeding orders a gross sum to be paid in lieu thereof, the sum shall be estimated according to the then value of an annuity of eight percent on the principal sum during the probable joint lives of such persons (which probable joint lives shall be computed from the table in this section for computing uniform seniority) as set forth in Column II in the table in § 55.1-500, showing the present value, on the basis of eight percent interest, of an annuity of $1 payable at the end of every year that two persons of given ages may both be living for the ages therein stated:

TABLE OF UNIFORM SENIORITY---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Difference of ageAddition to younger age112132425364748596107117128139141015111612171318141914201521162217231824192520262127222823292430253126322733283429353036313732383339344035413642374338443945404641474248434944504551465247534854495550565157525853595460556156625763586459656066616762686369647065716672677368746975701973, c. 355, § 55-272.1; 1981, c. 612; 2019, c. 712.