CHAPTER 80

An Act to amend and reenact § 55-275 of the Code of 1950 in relation
to computation of contingent rights of curtesy and dower, so as to
correct an example therein given.

[H 192]

Approved February 19, 1952

Be it enacted by the General Assembly of Virginia:

1. That § 55-275 of the Code of 1950 be amended and reenacted as
follows:

§ 55-275. Rule for computing present value of certain contingent
rights.— (a) When any person as husband or wife has a contingent right
of curtesy or dower in the estate of the other party to the marriage and
it becomes necessary to sell the estate free and clear of all interests, the
portion of the party entitled to the cash value of such portion shall be
computed as follows: Compute the present value of such interest for the
life of the person entitled to such cash value as set forth in §§ 55-269
through 55-271; from the value subtract the present value of such interest
for the joint lives of such persons, as set forth in §§ 55-272 and 55-273,
ane the difference is the present value of the contingent interest of such
party.
x *& &

(b) Example: A, age forty, and B, age thirty, are husband and wife.
B owns an estate worth ten thousand five hundred dollars. The estate
must be sold. The value of A’s curtesy (from 8§ 55-269 through 55-271)
is seven thousand seven hundred eight dollars five cents; the value of A’s
curtesy for the joint lives of A and B (from §8§ 55-272 and 55-278) is
seven thousand two hundred six dollars fifteen cents and this subtracted
from seven thousand seven hundred eight dollars five cents gives five
hundred one dollars ninety cents as the present value of the contingent
right of curtesy of A. |
2. An emergency exists and this act is in force from its passage.