West Virginia Statutes

§ 43-2-1 — Gross sum in payment of life estates

West Virginia·Ch. 43 DOWER AND VALUATION OF LIFE ESTATES·Art. 2 VALUATION OF LIFE ESTATES
When a party as a tenant for life, or in dower, or otherwise, is entitled to the annual interest on a sum of money, or is entitled to the use of any estate, or any part thereof, or of the proceeds arising therefrom by a sale or otherwise, and is 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 a court in any proceeding decrees a gross sum to be paid in lieu thereof, or if it shall be desirable for any purpose to ascertain the value thereof, the sum to be paid or the present value thereof shall be calculated according to the following chart: Age Annuity Life Estate Remainder 0 17.1944 .96289 .03711 1 17.3242 .97015 .02985 2 17.3073 .96921 .03079 3 17.2851 .96797 .0320

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Legislative History

2007 Reg. Sess., SB55; 1974 Reg. Sess., HB831

Nearby Sections

15
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